6 Ways To Better Contracts With Master Agents
Submitted by Gina Narcisi on
Do your homework
Schuman advises solution providers to do their due diligence when they’re considering a partnership with a master agent. Ideally, providers should be able to have candid discussions about the terms and conditions of their contracts, and what will happen if the relationship goes south, he said.
Talking to fellow solution providers that are already working with the master agent can be a great resource. Providers can ask questions of these partners, such as whether the master agent supplies quotes on time, and if the master provides contract management, or if the heavy lifting is being left to the solution provider.
"Find out who is doing most of the work," he said.
He also encourages solution providers to do a "background check" on the history of the suppliers that the master agent has relationships with to learn how customers receive these solutions.