PROGRAM DETAILS

Introduction

Since the contract is at the core of all commercial transactions, good contract management is a core competency of successful organisations. The effective expenditure of money and resources is dependent on successful contract management activities – selecting the appropriate models, understanding the legal principles of creating a contract, managing each party’s rights and obligations, and dealing with claims and disputes are all key areas within this discipline.

The programme will deal with commercial contract management, and follow principles widely used in international contracting.

Learning Objectives

Participants attending the programme will:

• Improve their understanding of the legal and commercial elements of contracts
• Learn about different contracting strategies and how they transfer risk
• Understand and manage the commercial impact of principal obligations
• Be able to manage claims and disputes
• Understand the types of remedies available and the processes to be followed

 Target Audience

 Any personnel involved in the planning, evaluation, preparation and management of contracts for goods, services or works of any scale or duration in the areas of:

• Procurement
• Engineering
• Construction
• Operations
• Maintenance
• Finance

Participants may be new to their role, preparing for a new or major project, or experienced professionals looking for a refresher.

Training Methodology

 The programme will include a variety of instructional methods, and involve a high level of interaction.  Our experienced international practitioner will explain principles and issues, using real examples, and will involve participants through discussion and debate, and individual and group exercises.

Program Content

 Day 1 – Contracting Strategies

•  Types and use
• Principal Risks and their Management
• Types and Sources of Law
• Judicial and Arbitral Systems
• Choice of Law, Forum and Jurisdiction

 Day 2 – Overview of Contract Law and Contracts

•  Formation, Validity and Structure of Contracts
• Drafting Pitfalls
• Notices and other Formalities
• Indemnities, Guarantees, Warranties
• Bonds and other Security Documentation

Day 3 – Principal Obligations and Their Management

•  Time – progress and completion
• Quality – standard, testing, acceptance
• Price and Payment
• Title and risk transfer
• Intellectual Property

Day 4 – Managing Change

•  Changes and Variations
• Delay
• Force Majeure
• Valuation
• Processes and Procedures

Day 5 – Remedies and Dispute Resolution

•  Eliminating Sources of Disputes
• Suspension and Termination
• Types of Loss and Damage, Limits and Exclusions of Liability
• Alternative Dispute Resolution
• Arbitration and Litigation