Using your own contract template with vendors is a best practice that Mr. Guth strongly advocates and it is a theme common to his negotiation philosophy. The benefits of buying or building your own contract templates are that they:

• Provide for more favorable terms and conditions
• Ensure an appropriate allocation of risk
• Improve the efficiency of procurement staff by offloading the responsibility for redlining onto the vendor
• Ensure a more comprehensive contract
  

To assist fellow procurement professionals in developing their own contract templates, Mr. Guth has made the following contract templates available for download:

Master Software License Agreement

Master Professional Services Agreement

Master Hotel Agreement

Master Speaker and Talent Agreement