Business Contracts Practical Workshop
The overall aim of this course is to provide participants with the knowledge, concepts, skills and tools necessary to draft and manage contracts. Participants in this course will learn all the processes and activities required for the implementation of contractual obligations.
will provide participants a comprehensive understanding of procedures and practice related to the risks inherent in the formation and management of contracts. Through analysis of real-life examples, this Contract Management training program demonstrates how to manage contract risk effectively and to ensure contract negotiations and performance occurs quickly and efficiently.
· Outline the major activities and steps of contract
· Explain the different types of variation orders, claims and damages
· Explain key contract provisions and provide instruction on how to manage contract effectively
· Interpret essential contract clauses and understand the specific terms and conditions
· Develop your ability to negotiate an effective contract to protect your corporation’s interests
· Learn how to avoid problems, or mitigate their effects through well drafted contracts and good management
· Recognize how to avoid disputes but be prepared to deal with them if they arise
Principles of contracts
· Elements of a contract
· Objectives and definitions
· Contract framework
· Purposes of contract administration
· Difficulties encountered in contract administration
· Contract administration major steps
· Competencies of contract administrators
The Contracting Process
· Auctions, Bids and Tenders
· Invitations to Tender and Treat
· Heads of Terms and Letters of Intent
· Bonds and Guarantees
· Standby Letters of Credit
· Form of Agreement
· Contractual Structures
· Incorporating Standard Terms of Business
· Informal Contracts
· Letters of Comfort
· Subcontracts and Warranties
Contract Clauses
· Pre-contracts and Post Contract “qualification phrases”
* Subject to Contract
* Without Prejudice
* Subject to Client Comment
· Securing Payment
* Payment Obligations
* Non-Payment Remedies
* Letters of Credit
* Guarantees
· Delivery, Ownership and Risk
* Time and Place of Delivery
* Late and Failed Delivery
* Damage in Transit
* Ownership and Acceptance
* Transfer of Title and Risk
* Retention of Title
* Time of the Essence
· Liquidated Damages
Changes, claims and disputes
· Changes and variation orders
· Change process
· Breach of contract
· Money damages
· Equitable remedies
· Claims and disputes
· Alternative dispute resolution
* Mediation
* Arbitration
· Contract closeout
Disputes and Compliance
· Choice of Law
· Choice of Dispute Resolution
* Negotiated Settlement
* Litigation
* Arbitration
* Mediation, Adjudication, and Experts
· Settlement Issues
* Enforcement of Judgements and Awards
* Jurisdiction
· The Importance of Business Integrity
* Bribery
* Corruption
* Money Laundering
* Competition Law
Contract and Purchasing Personnel, Project Management Professionals, Responsible of negotiating or approving contracts, legal and financial staff, any personnel involved or interacting with contracts.