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Contract Simulation

In: Business and Management

Submitted By ikem
Words 1238
Pages 5
Contract Creation and Management The Contract Creation and Management simulation is about a contract agreement dispute between Span Systems, an e-banking software developer and their client Citizen-Schwarz AG (C-S), a German bank, financial institution whose main purpose of procuring the software is to enter the United States retail financial services market (UOPX Website). The simulation presented both side of the dispute between these two companies. The most important issue is to settle the dispute amicably without terminating the contract. As observed on the simulation, eight months into the project, the client C-S was ready to end their agreement. Breach of contract under internal escalation procedure for dispute implemented as an amendment clause. The amended clause specified that both parties should establish a specialized committee to monitor the progress of the project. Citizen-Schwarz claims that Span Systems performance as below satisfactory and behind schedule. For lack of legal understanding, C-S believes that they have the right to have Span Systems unfinished work transferred over and terminate their contract. Span Systems claimed that the performance issues and project delays are as a result of constant changes requested by Citizen-Schwarz in regard to creation of the transaction system. Span Systems also believes that C-S has violated the contract because of the project has deviated greatly from the original. C-S was possibly trying to distribute Span Systems unfinished code to another software developer, which was another breach in contract violation. As in this case, if each side maintains its own position, neither company will get anywhere, but land in court, which is the last alternative. Span Systems and Citizen-Schwarz has to maintain a reputable and professional relationship. Both parties have to come into a consensus to serve each...

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