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By Michael A. Airdo

In his first State of the Union Address in 1962, President John F. Kennedy said, “The time to repair the roof is when the sun is shining.” With this wisdom, President Kennedy was instructing the nation on his belief that in good weather we need to prepare for the rain; or, in good times we need to prepare for the bad times that, inevitably, will come. Contracts are drafted to govern expectations in a relationship and guard against surprises. The Compendium provides an overview of particular issues to examine-in the sunshine-when reviewing common contracts an organization may have with different vendors and/or outside parties.

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