Has Eversheds bitten off more than even its eager mouths can chew with the three-region extension to its fixed-fee mandate with airline trade association, International Air Transport Association (IATA)?
The new deal overrides the terms of the former contract and brings coverage for all 158 countries in Eversheds’ remit under a single new agreement, with 10 per cent of the fees withheld against key performance indicators.
IATA general counsel Jeffrey Shane had intended to provoke some competition by handing the mandates for Europe, North Asia and Asia Pacific to another firm. But in the end he concluded that the other candidates didn’t quite cut it on the infrastructure to deliver a contract of this scale.
That said, he was candid in pointing out the size of the task Eversheds has taken on, saying, “if they stubbed their toe and failed to deliver, it would be a real negative come evaluation time”. No pressure then.
Eversheds picked up its first large-scale fixed-fee contract in 2006 when it won the mandate for all of Tyco’s legal needs across Europe, the Middle East and Africa. That contract was renewed for the fourth time last year as well as leading to a similar mandate for Tyco spin-off company, Pentair Flow Control.
Will the years of experience continue to pay off? Or is Eversheds heading for a spot of indigestion?
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