Course Description
Contracts are the basic structure of all business relationships, whether they be for the construction of a major new facility, or for the supply of new goods. The terms appearing in the contract and the management of the contract itself are critical to the success of all companies. This course covers the three stages of contracting; negotiating the “deal”; and documenting that deal. The course is devised to develop general skills with demonstration of applications in a wide range of contracts, and to allow participants to have an awareness of practices in other areas and other industries, which may add value to their own situations.
Course Objectives
- Learning enhanced management skills that will improve the efficiency of contract administration and management.
- Learning how to negotiate a contractual arrangements
- Learning what constitutes a valid contract
- Understanding problem areas with major clauses, and how to avoid them
- Drafting issues that arise on common clauses, and how to negotiate these terms
- Learning how to use standard form documents efficiently
- Learning techniques to improve the efficiency of contracts
- Learning latest strategies on dispute resolution, and ways to avoid disputes
Who Should Attend?
- Project directors
- Contract administratiors
- Procurement staff
- Managers
- Executives
- Anyone involved in contract management techniques
Course Details/Schedule
- What constitutes a contract?
- How to structure commercial arrangements
- Innovative commercial solutions
- How to negotiate a contractual structure
- Basic techniques for negotiation
- How to document discussions
- Relationship between negotiation and contract drafting
- Closing a deal
- Dealing with difficult negotiators
- Using standard forms
- Developing your own standards
- Modifying forms
- Dealing with contract qualifications and amendments
- Structuring complex documents
- “Level playing field” issues – how to be fair to more than one bidder
- Dealing with errors in a bid
- Negotiating complex wording
- Formalities to finalise the contract
- Performance of the work in the contract
- Intellectual property
- Extension of time
- Force majeure
- Time for completion
- Liquidated damages and penalties
- Termination and suspension
- Law of the contract and dispute resolution
- Risk assessment and management
- Kick-off meetings
- Assignment of responsibilities
- Setting and managing expectations
- Planning
- Reporting – being realistic with requirements
- Progress meetings and expediting
- Dealing with defaults and external factors
- Payment issues – including international trade
- Recognising potential problems
- Dealing with issues as they arise
- Legal rights and commercial outcomes distinguished
- Negotiation structures for internal dispute resolution
- Types of external dispute resolution
- Issues with different legal systems
- Enforcement of awards
- Management of disputes
- Avoiding disputes in the first place
