Supplier Alert: GM Issues New Terms and Conditions
Monday, July 15, 2013
On June 24, 2013, General Motors informed suppliers that they were adopting new "General Terms and Conditions". The New Terms are an update of the 2011 GM Terms and are intended to harmonize GM and PSA Peugeot Citroen's terms. The New Terms will only apply to new RFQs issued after July 15 and will not apply to existing business or current outstanding RFQs, meaning that the 2011 Terms will still be applicable for several years.
Some of the most notable changes include a contractual focus on GM's supply chain risk management, new warranty obligations, and ownership and license rights for intellectual property. A thorough analysis of the High, Medium, and Low Impact changes can be found HERE. For more information on the New Terms and how Butzel Long can assist you in understanding and responding to them, click HERE.