Automotive Insiders host Jason Stein interviews Warner Norcross + Judd LLP Executive Partner Michael Brady on the importance of carefully reading purchase orders and rela ted contract documents, including terms and conditions – especially in today’s automotive industry climate. Although the perception may be that supply chain issues have dissipated, that couldn’t be further from the truth. In actuality, supply chain stress is worsening due primarily to continued labor shortages, raw material shortages, shipping issues and inflation. Michael Brady provides insight into what suppliers can control, and it starts with properly assessing your purchase orders and terms and conditions with both your suppliers and your customers. He offers a legal perspective on suppliers’ rights to terminate contracts, how to navigate stop-ship threats and aggressive debits, and when to engage legal counsel. He also addresses warning signs to help identify distressed suppliers or customers that could negatively impact your business.
To listen to the podcast on Spotify, click here.
For more information on supply chain issues impacting automotive suppliers, please contact Michael Brady or a member of Warner’s Automotive Industry Group.
