Anticipatory Breach

CIOP training and certification program is delivered over 90 hours of classroom/online training in corporate and retail batches. The uniqueness of this program is that it addresses the modern supply chain trends without loosing the traditional aspects. This program prepares the participants for supply chain management in 2025 and beyond by infusing the learnings need in the areas of industry 4.0 such as Internet of Things (IoT), Blockchain, Artificial Intelligence (AI), Machine Learning (M/L) and Robotic Process Automation (RPA). It also deals with process improvement philosophies, methods, and tools such as Microsoft Visio. The program deals with almost 50+ supply chain analysis techniques.

The most important terms and concepts that you must understand before going into business is how does inventory work, how is inventory used and what are the different types of inventories that exist. When you're looking at how to increase your production, what you really need to know is what type of inventory is really necessary. 

There are different forms of inventory like raw materials, finished goods and end-products or goods in process and all these forms have their own particular functions within an overall production function. Some companies purchase raw materials from suppliers and bring them to the production facility and others lease these materials to the production company for a period of time. In addition there are also contract makers and invoice processors that are engaged in a very crucial role within the supply chain.

Anticipatory breach or anticipated rupture is a legal term from the law of contracts, which refers to a verbal declaration by the other party to a contractual obligation that he or she really doesn't intend to fulfill his or her commitments under the contract. When this happens, the other party has the right to bring a lawsuit against the one who made the declaration. In order to protect their interests, the other party signs a non-disclosure agreement (NDA). This way, the other party cannot bring a lawsuit against the person who issued the NDA. However, this does not always prevent the person from divulging information that might harm the company's interests so in this case, the company would need to file a lawsuit against the person.

In most cases, the reason for a company to enter into an NDA is to protect its confidential information. Also, a company would like to prevent its employees from talking about the company secrets to other employees and even to prospective clients. It is important for companies to know when they entered into an NDA so that they could mitigate the damages that can be awarded in a lawsuit. If the other party has a strong case, it may be able to get compensatory damages as well as punitive damages. A qualified attorney would know when to push for a settlement or when to attempt to go to trial. It is up to the company to hire a competent lawyer on a contingency fee basis so that they do not have to shoulder any legal fees.

Related Articles

What is an Anticipatory Breach?
Anticipatory Breach of Contracts
4 Types of Breach of Contract
Example of an Anticipatory Breach
Law on Anticipatory Breach of Contract in India