Efficient contract management: Standardised contract design for market data deliveries at a large German cooperative bank
The brief
A German co-operative bank commissioned us to draw up a master agreement for the supply of market data to subsidiaries and affiliated companies. With its alternative text variants, it was to form the basis for all future contracts. In addition, all existing market data supply contracts including annexes with the subsidiaries and affiliated companies had to be adapted and updated on the basis of the new master agreement. The aim of the project was to create an essentially standardised contract structure for the supply of market data.
Our approach
After consultation with the specialist department and handover of the existing documents:
- Detailed analysis of the existing market data supply contracts
- Summarising and listing the inventory
- Creation of a new master agreement with extensive text variants including annexes
- Adaptation and updating of the market data supply contracts and their annexes on the basis of the master contract
- Preparation of the necessary documentation for use of the master agreement
- Final coordination of all contracts with our client’s legal department and handover to the specialist department
The solution and key benefits
With the master agreement and its annexes, our client has a standardised template for the future contractual design of internal market data deliveries. The basic regulations are now identical in all contracts; contract-specific particularities are regulated via the text variants. The additional customisation and updating of the existing contracts provides our customer with an essentially standardised contract system that enables the contracts to be processed and managed quickly and efficiently.
