Contract Risk Management and Compliance
This training course on Contract Risk Management and Compliance adopts a fresh approach to the management of contract risks, considering the many negative possibilities that can afflict commercial transactions. The training course is relevant to legal agreements from many industries, including construction, oil and gas, Petro-chemicals, utility services as well as contracts for the provision of materials, works and services.
· Identify and analyze the commercial risks that contract owners face
· Inform contract owners about how effectively their major contracts currently manage risks
· Encourage contract owners to review their contracts, to ensure protection for their organizations if contracts go wrong
· Watch out for the essential risk management tools to include in a new commercial agreement
· Use the protective measures in existing contracts, such as contract variation, termination for convenience, or Force Majeure, to recover from an occurrence of a major unknown, unexpected, and undesirable event
· Plan for new risks that may appear for health & safety, economic or other reasons
· Identifying and analyzing contractor-based risks
· Risk Avoidance and mitigation methods
· Using contracts to share or transfer risks to others
· How to protect yourself using better legal documents?
· Making use of contract templates: FIDIC, NEC and other models
· What to do when commercial risks become reality?
· How to use the most relevant Contract terms, including:
· Default / contract breach
· Suspension and Termination
· Assignment and sub-contracting restrictions
· Force Majeure
· Exclusion and limitation of liability
· Indemnity and insurance clauses
· Liquidated damages and penalty clauses
· Bonds and guarantees
· Managing retention sums
· Contract Variation
· Dispute management
Contracts Engineers, Contracts Administration Professionals, Contract Managers, Project Managers, Commercial Managers, Procurement Department members, Supply chain personnel, anyone responsible for negotiating, drafting, and preparing contracts.