Controversial supplier contract purchasing terms adopted by General Motors last year, will be changed by the automobile manufacturer after suppliers say that the terms expose them to greater warranty liability. Although the new terms and conditions applied to only new purchase contracts, supplier executives and attorneys said they were uncomfortable with elements of the new contract. The new terms and conditions extended the automaker’s rights giving GM more authority to recover warranty and safety recall costs, to acquire suppliers’ intellectual property rights, and to access their financial information. Continue reading →