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PRACTICE AREAS

Contract Review, Negotiations, and Termination

Vendor management, from the start of a relationship to the termination of an agreement, is a fundamental part of any financial institution’s business. In recent years, this has also been a hot button issue for regulators, with increasing attention and guidance promulgated by regulators about the importance of vendor management and due diligence over vendor relationships.

With over 30 years in the industry, SW&M knows the vendors and other players in the financial institution space, with experience reviewing contracts from vendors such as: Jack Henry, Fiserv, Harland Clarke, FIS, CO-OP, Meridianlink, TMG, Elan, Dovenmuhle, Diebold, Loomis, and Wolters Kluwer. SW&M also has significant experience with leases, asset purchase agreements, and other types of agreements frequently encountered by financial institutions, including: Mortgage Lending Agreements, Home Equity Line of Credit Agreements, Joint Marketing Agreements, Employment Agreements, Loan Participation, Servicing, and Subservicing Agreements, and Data Processing Agreements.

Financial Institutions have numerous reasons for wanting to terminate a contract, and in some cases (i.e., merger), may be required to terminate. Such situations can pose challenges for “what’s owed” and/or gaining access to important files. SW&M has assisted on such matters and the important issues that need to be addressed to put the end of vendor relationship to bed.

Additionally, SW&M provides training and education for clients who want to have some internal expertise for reviewing those types of agreements that it may not necessarily want to hire an attorney for. For more information see our Contracts 101 Training.