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Statutory compliance parameters: Safety and health regulations, labor codes, data security standards, local and international guidelines, licensing, etc. Whatever the objective may be, the contract audit process is essential to averting non-compliance— the ramifications of which go far beyond fines and penalties.
This can happen because of new software and systems that were implemented or require new regulations. The lifecycle of a Third-Partycontract is a process that all companies should adhere to.
And this is yet another time when contracts become extremely crucial for businesses as they go through rapid changes. Contracts Hold the Key to Ensuring Better Outcomes During M&As. It isn’t just about keeping regulators satisfied and meeting legal requirements during an M&A event. M&As are messy affairs.
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