Overview
In today’s business society, organisations have lost significant sums of funds due to the contractual terms and conditions, which have been created when purchasing equipment, services and goods.
The importance of understanding contractual agreements has considerably increased since most business processes are now governed through a contractual relationship. Delegates must also realise how to obtain the best agreement for your organisation.
The program has been designed to show delegates how contracts have been created, explain the main clauses that can appear within contracts today and advise on other potential alternative contracting strategies and structures.
The course will also cover how contracts are negotiated including techniques for negotiating on contract variations and claims. Also covered are the day to day commercial issues which can arise from business agreements.
Coverage
- Developing contractual structure and strategies
- Contractual Risk Management and analysis
- Understand contract issues
- Drawing up and drafting contracts
- Resolving claims and disputes
- Price and performance measurement
- Commercial awareness
Objectives
- Develop an understanding of how contracts are created
- In-depth contract clause analysis
- Improve knowledge of contractual legislation
- Develop an understanding of a variety of contract strategies
- Contract negotiation and dealing with disputes
- Risk management techniques within contractual contexts
- How to create and implement contract clauses to reduce dispute risk
How This Helps Your Organisation?
- Increase efficiency and effectiveness within organisational processes
- Possess knowledge on the latest international practices in contract strategy
- Build strong and effective contracts
- Improved supplier performance
- Improved understanding on legal issues which allow for more effective management of legal rights
- Employees possess more confidence in discussing contract issues with lawyers and different parties
- Effective risk reduction and conflict resolution
How This Helps You Personally?
- Career enhancement
- Improve supplier performance
- Improved expertise in contract development
- Increased negotiation skills
- Improved legal knowledge
Course Structure
Fundamental contract issues
- Analyse the scope of the task required for which the contract is being drawn up
- Creating a Contract
- Contract Plan – Preparation and Monitoring
- Proven Methodologies for successful Contract Administration Management
- What is Force Majeure and it’s implication on a contract
- Dealing with volatile market conditions
- Service Level Agreement (SLA) and Delivery time
- Contract Termination or Suspension process
- Contract Warranty
- Discuss the laws that govern a contract
Contract Variation
- Dealing with changes in the terms of the contract
- How to Protect your department from losses and liability in contractual situations
- Variation clauses
- Scope Change evaluation
- Delegation and Control Functions
- Time and deadline extension
- Changes in scheduling
- Dealing in disruptions of the work required
- Change management theory
Payment and Contract Documentation
- Scheduled payment
- Implementing Standard commercial documentation
- How to create a Letter of Intent
- Parent Company guarantee
- Ending a Contract
- Potential sources of damage and how to deal with damage control
Conflict Resolution
- How to avoid potential contract dispute using clause
- Understanding how to prepare, present, manage and negotiate a winning claim
- Understanding Contracts & Claims
- Apprehend potential disputes before they arise
- Winning Negotiating Strategies for Settlement of Disputes Claims
- The options available for dealing with disputes (courts, alternative methodologies e.g mediation)
- Contractual review and analysis techniques