Terms and Conditions of Contracts for Projects from POME by Gautam Koppala VT
action and the costs of such escrow arrangements do not justify them.
No escrow arrangements may be established with any party without the prior documented approval of the SBU office of Vice President, Contracts or if none the SBU General Counsel. Such approval must include the prior approval of all the details of the escrow arrangement including the specific contract language involved.
De-booking of Contract Obligations:
Contracting functions must have specific policies in place detailing the requirements for the de-booking of previously booked business. These policies must include SBU specific guidance regarding management notification and where appropriate approval. If the de-booking is the result of a contract breach or claim from a Project/ Product/ Services Organization customer, the SBU office of the Vice President, Contracts and
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