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When negotiating a vendor contract, it's essential to focus on specific provisions that may differ from typical contracts. Key considerations include the scope of services, which defines exactly what the vendor will provide, whether it's a custom-built technology or a specific service. This clarity helps prevent misunderstandings. Additionally, establish performance standards or service level agreements (SLAs). These metrics outline how to measure the vendor's performance and ensure they meet contractual obligations. A clear definition of services and measurable performance criteria are crucial for a successful vendor relationship.
