Supplier contractual terms delivered ready to insert.
Speeki OnBoard™ helps you with the final part of your supplier qualification process: Contracting.
Speeki OnBoard™ is a suppler contracting solution and is part of the suite of products that makes up Speeki's supply chain selection, qualification and due diligence solution.
Speeki OnBoard™ takes all the information, knowledge and risks identified in your qualification and due diligence process for a particular supplier and prepares a set of contractual provisions that can be incorporated into your supplier contract.
What is Speeki OnBoard™?
Speeki OnBoard™ is a contract clause drafting solution. Speeki provides you with a set of terms that you can include in your supplier contracts. Our proposed terms are drafted specifically for the supplier and based on all the information that has been obtained from the qualification and due diligence process.
Most companies do not adjust their 'standard' boilerplate language in their supplier contracts even if they identify gaps in the supplier's ESG and sustainability practices. Speeki believes this is a mistake. If you have identified gaps in the supplier programme and you want them to make changes, then building it into the contract is the first step. Then you can contractually mandate certain requirements with your supplier and hold them accountable to deliver on your expectations.
Speeki OnBoard™ provides the contractual clauses ready to be inserted. Your contracting team can then insert those clauses as necessary into your contracts and proceed with any negotiation.
Is Speeki OnBoard™ acting as your supply chain counsel?
No. We are not acting as your counsel, but we do provide an addendum with contractual clauses. We are not acting as your lawyer or your law firm and we are not providing legal advice. That obligation remains with you and you need to make sure that the clauses are right for your supplier contract and that they are inserted and integrated correctly.
Speeki OnBoard™ drafts an addendum for you based on the risks identified in the supplier's ESG and sustainability initiatives. While the addendum is reviewed by an experienced and trained attorney who has expertise in ESG and sustainability risks in the supply chain, we are not providing legal advice.
Why are specific clauses addressing these risks necessary in my supplier contracts?
Speeki OnBoard™ features
Reviewed by legal professionals.
The Speeki OnBoard™ addendums prepared by Speeki have been reviewed by our legally trained professionals, some of whom have spent many years in-house experience.
Fixed price and substantially less than outside lawyers.
Our solutions are a set price per addendum. Bought in a series of packages (min 10) you know precisely the cost and can build this into your cost of onboarding a supplier. Costs are significantly less than an outside counsel attorney.
Designed specifically for each supplier.
More than just templates, the addendums are designed for each supplier based on the circumstances of that supplier and how they have proceeded through the qualification and due diligence steps in your process.
You control the ultimate final version.
While Speeki will provide you with the Speeki OnBoard™ addendum ready to insert into your supplier contract, you retain control of the ultimate version.
Not too little and not too much.
The Speeki OnBoard™ addendums are produced in MS Word allowing you to edit where necessary. Scale down our drafting with ease to suit certain supplier needs. We aim to have less than two pages of text, simply laid out and drafted in simple language.
Standalone versions for existing contracts and suppliers.
Speeki OnBoard™ can also be used for standalone agreements with your supplier. If it is preferred to have a additional contract, this can be drafted and provided for an additional fee.
Integration with your templates.
The Speeki OnBoard™ addendum templates are set up with the right wording to easily slide into your existing supplier agreements. They can be worded as a 'ESG and Sustainability addendum' or other wording that works.
Simple language clauses.
We pride ourselves at Speeki to write clauses in simple terms for suppliers to understand. This is particularly important for SMB suppliers and those that lack their own legal counsel.
Why do your supplier contracts need more focus on ESG and sustainability issues?
ESG and sustainability is the leading issue facing the supply chain today: managing risk.
Legislators, the community, and your customers hold you responsible for your suppliers.
Your customers don't really see the difference between your role and that of your supply chain. They look to you for their answers. Trying to shift responsibility in the market and in the media is pointless. Actively managing risk in advance should be your focus.
You need suppliers as much as they need you. Their data becomes your data.
The chances are that going forward you will need a lot of data from your suppliers. Right now, there is likely no legal obligation for them to provide it to you. Better contracts, better obligations, better requirements and better enforcement is part of the solution in gaining better data from your suppliers.
Managing supplier risk is a mixture of knowledge, assessment and contractual.
Contracts have been a great shield over the years. However, they are a sword just as much as they are a shield. Properly drafted, supplier contracts can do both. While templates and removing the lawyers from simple negotiations is a good thing, better supplier contracts, more tailored to manage specific risks are needed in the future.
You may need to rely on those contracts to enforce requirements. They need to be clear.
In the new World of ESG and sustainability, you will need to make the expectations very clear to your supplier. Differences in size, legal obligations, reporting obligations, and risk tolerance, will influence what each party to the contract are expecting.
As companies push more to their suppliers in terms of obligations, these need to be accurately described in contracts.
Best practice is to set out clearly the expectations of both parties in their contracts. While this is standard practice, the use of templates has lead to less than specific guidance to suppliers on the expectations of the customer.
Speeki OnBoard™ FAQ's
How much does it cost?
Speeki charges a flat fee for each Speeki OnBoard™ addendum purchased in packs of 10 paid in advance.
How long does it take to prepare?
With a package purchased, credits remaining, and inputs received, normally overnight or next business day.
Does Speeki help to negotiate the addendum?
We do not get involved in the negotiation of the addendum.
How does Speeki decide what to include in the addendum?
We are looking for things that the supplier can do to improve their ESG and sustainability practices that by implementing or improving, would benefit you and your risk levels.
Can we change the addendum after being provided by Speeki?
Yes, you are welcome to make changes or adjust as you see fit.
Can you use my addendum template?
Yes. We will look at how to include your structure into a template addendum.
What does Speeki need in order to prepare the addendum?
We focus on inputs from you as well as the results (if any) from Speeki Trust™ background checks or Speeki Qualify™ assessments that the supplier may have completed.
What happens if the supplier refuses to sign or negotiate?
Negotiate, accept defeat or find an alternative supplier.
What makes Speeki different from other assessment tools?
We think that a scorecard makes sense for a company to improve their ESG. How mature is your programme is a better judge of the programme in the situation where you will use that information to improve your own internal systems.
Your Speeki Assessment depends on the quality of the evidence you provide, which is analysed and processed by risk professionals. We conduct our own independent review and verification of responses and supporting evidence through the use of our proprietary scoring methodology.
How it works
The Assessment process is streamlined and conducted primarily online. After completing a questionnaire, and preparing and uploading the required documents, you will receive a scorecard approximately four to six weeks later.