What is a Contract?
Something of value offered by both parties to a contract. One of the three fundamental elements of a contract.
What is Consideration?
This UCC doctrine applies when the parties do not sign a written contract, but instead exchange documents that do not show clear alignment to a single set of terms.
What is the Battle of the Forms?
This type of warranty is identified specifically in writing in the contract. This is usually the best type of warranty to rely on.
What is an Express Warranty?
If a Supplier will hold Whirlpool tooling or equipment, then the Whirlpool buyer should always obtain this type of Agreement.
What is a Bailment Agreement?
This member of the Transactions Team is the newest and routinely acts in theatrical productions.
Who is Matt Cameron?
Usually, this is captured through either "requirements" or through a minimum volume. At Whirlpool, we almost always use requirements. This tells us how much we will buy and how much Supplier should expect/plan to sell.
What is the Quantity Term?
When a contract is signed, we want to ensure that nothing else exchanged between the parties will impact the meaning of the Agreement. This clause toward the end of the document helps to protect this concept.
What is the Integration OR Entire Agreement clause?
This legal concept (and contract provision) is a promise from Supplier that it will protect Whirlpool against future claims (typically those brought by third parties).
What is Indemnification?
In order to protect Whirlpool's ability to buy additional parts after production parts go obsolete, Whirlpool buyers should always confer with this team before finalizing a contract to ensure any additional provisions needed are properly addressed.
What is the Service Parts team?
This Transactions Team member resides the furthest south of all members presenting today.
Who is Felipe Fernandez?
Whirlpool's binding purchase commitment in any Release.
What is the Firm Period?
Sometimes words (promises) combined with actions can create this important relationship between parties.
What is a Contract?
This common legal concept is one Suppliers routinely ask for, but which should always be initially rejected. Only with GSS leadership and legal approval can this type of provision be included. Quality and Consumer Claims are required checkpoints before finalizing.
What is a Limitation of Liability?
This is the best time to get an NDA.
What is BEFORE any confidential information is shared with the Supplier?
This member of the Transactions Team is actually a black belt (so be cautious about complaining too much! ha ha)
Who is Pervin Taleyarkhan?
Under Whirlpool's standard Supply Agreement terms, title to the Goods pass to Whirlpool at this time.
What is the time when risk of loss passes per the Incoterms?
This is the action a Whirlpool buyer must take if a Supplier objects to application of our PO terms after we submit the order.
What is respond clearly in writing?
This typically lasts from the later of (a) the date of expiration of the warranty provided under applicable law, (b) the period of warranty Whirlpool gives to end customers, or (c) the period set out by WHR in writing (e.g. in the Specifications).
What is the Warranty Period?
For a GSS person to sign for the Mexico entities, he/she must be identified in the LAR-N Commitment of Authority Matrix and have this formal documented title.
What is Power of Attorney?
These Transaction Team members led a project this year to help track key business continuity issues-- and this process will likely transition, in part, into revisions to the GSS Legal Intake Form you submit.
Who are Andrea Quiroz and Sofia Garza?
If Whirlpool and Supplier agree to a mechanism to adjust pricing (e.g. like to address raw materials or something else), such a mechanism should be placed in this section of the standard template.
What is Section 10 for "Additional Terms" in the Commercial Agreement?
If a Whirlpool Buyer is concerned that negotiation of the Global Template is unlikely to be finished before supply begins, then this document type may be a good "bridge" to the Global Template. (Note: It requires Director-level and Legal approval for each use)
What is the Supply Commitment Agreement?
Although sometimes requested by Suppliers, limitations of liability, if allowed, should never be combined with this section of the contract.
What is the Indemnification Section?
This doctrine (a) protects confidential communications, (b) between lawyer and their client, (c) made for the purpose of seeking or providing legal advice.
What is the Attorney-Client Privilege?
This Transactions Team member rightly believes that Kirk Cousins is the best all-around quarterback and person in the NFL.
Who is "Big Bill" Siderits?