IT Management: Contracts

Question 1

In which contractual clause must be a legal counsel consulted?

Answer 1

litigation; agreeing to terms for litigation can severly restrict teh organization’s ability to pursue damages if something goes wrong

Question 2

What is indemnification?

Answer 2

language that ensures that the vendors take responsibility for problems or issues that they cause

Question 3

What can establish the jurisdiction for resolving disputes?

Answer 3

contracts between parties

Question 4

What elements are required for the creation of a legal contract? (4)

Answer 4

1. each party of the contract must have the capacity to agree to the contract
2. there must be offer made by one party - verbal or writing (takes precedence)
3. the other party must accept the offer
4. both parties must exchange something of value (can be a monetary transaction for some goods)
5. both parties must agree to the terms of the contract

Question 5

What are common concerns when terminating a SaaS contract?

Answer 5

1. Obtaining access to organizational data at the end of the contract
2. Ensuring that its data is properly disposed of after the contract ends
3. Ensuring proper termination of the contract

Question 6

When is the Doctrine of Proper Law (Lex Loci Contractus) used?

Answer 6

when a dispute occurs over which jurisdiction will hear a case; used in the context of contract law

Question 7

Who is responsible for contracts most of the time, and who should be involved to share requirements?

Answer 7

legal counsel is most often responsible for contracts, security team should be involved to share requirements

Question 8

Why are metrics important in the contract?

Answer 8

they tell how the compliance with the agreement is measured

Question 9

What are some of the common contractual clauses that should be considered for any CSP?

Answer 9

• right to audit
• metrics
• definitions
• termination
• litigation
• assurance
• compliance
• access to cloud/data

Question 10

What is a contract clause?

Answer 10

specific article of related information that specifies the agreement between the contracting parties