The Contract Provision Review (CPR) Working Group holds regularly scheduled calls to review and discuss the pros and cons of certain contract provisions identified by members. Many CLEG members routinely work on contracts with limited ability to benchmark their reviews with others. To promote coordination and collaboration among industry professionals, the CPR Working Group hopes to create a diverse team of contract and legal personnel that can contribute to an ongoing discussion that offers a full spectrum of views on provisions reviewed by the group.
Prior to each call, CPR Working Group members can submit contract provisions that they are working on (or have worked on since the last call) that they would like to propose for group review and discussion. In addition, time will be reserved on each call for a general discussion on provisions that were not provided in advance.
The Working Group plans to index each provision discussed by its members along with pros, cons and any recommended variations for consideration. Over time, the end result is expected to be an online resource (available only to CPR working group members) of all the provisions reviewed and related discussions organized by contract type (e.g., 1992 ISDA, 2002 ISDA, EEI, NAESB, etc.) and the type of provision (e.g., Cross Default, Set Off, etc.). The goal is for this contract provision database to become a useful resource for CPR Working Group members in reviewing and negotiating similar provisions in their company’s various trading agreements. If you would like more information or to join, please contact Jeff Heffernan.
Do you have provisions that you would like the CPR Working Group to review or discuss? Submit them by clicking HERE to be considered for potential inclusion on the agenda for a future CPR conference call.