Managing Contractual Risk in Cloud Contracts (Part 1)
June 26, 2014
Grazed from CloudComputingAdmin. Author: Ricky M. & Monique L. Magalhaes.
In this two part article we will look at contractual terms in cloud services contracts and issues for consideration, to reduce risk. If you would like to be notified of when Ricky & Monique Magalhaes release the next part in this article series please sign up to our CloudComputingAdmin.com Real Time Article Update newsletter.
Due diligence procedures should not be overlooked when selecting a cloud provider. Cloud computing risks can be identified, managed and even reduced through thorough scrutiny of the services contracts to ensure the appropriate contract assurances and operations best practices are in place. Contracts for cloud services vary, from ‘one-fit-all’ solution contract or a multi-layered services agreement…
Introduction
Cloud services are increasingly being adopted, however the exponential growth should not hide the fact that cloud services are still somewhat contractually immature and thus susceptible to manipulation. A lot of the time customers are taking on increased risk in the haste to embrace these modern cloud services. Cloud contracts require proper standardisation and transparency to avoid complications as well as to mitigate risk. For the past few years this has been a persistent issue, with the industry pushing for transparency and urging cloud service providers to engage honourably with customers…
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