Course Description

 

Commercial and business relationships are based on contracts of one type or another. These are becoming increasingly complex, and as trade becomes ever more international, the differences in approach between different legal and contracting systems becomes a greater issue. All business professionals need to understand what a contract does (and does not) require them and the other party to the contract to do, and the consequences for both parties of any failure. This course is intended to provide an understanding of contracting in the English language, but in an international context.

Course Objective

 

To enable delegates to improve their understanding of the role of contracts within a business, and how strategies can be developed to improve the commercial outcomes, and the management of contracts. The course will also give delegates the opportunity to consider the latest international thinking in dispute resolution, and how this can be used in everyday business life to reduce conflict and the costs and delays associated with more conventional approaches.

Training Methodology

The training methodology will be a combination of conventional teaching, supported by real examples and case studies. Delegates will also be given the chance to work on short exercises to develop their skills, and encouraged to discuss real problems from within their organizations or elsewhere.

Benefits To Your Organization

• Improved ability of delegates to understand commercial issues relating to contracts
• A wider choice of potential contracting strategies
• Improved ability for professionals to instruct and communicate with legal departments
• Better understanding of the role of bonds and guarantees in a contracting strategy
• Increased control of change
• A wider choice of dispute resolution methods
• Reduction in costs and delays associated with dispute resolution
• Improved relationships with suppliers and contractors as a result of reducing conflict

Benefits To You

• Develop an understanding of the role of contracts in the business world
• Explain how contracts are structured
• Examine current thinking on contracting structures in an international context
• Improve understanding of the main terms and conditions of contracts
• Understand the importance of change management and control
• Develop appreciation of the collateral documents that work alongside contracts; including bonds, guarantees, letters of intent etc.
• Review the latest international thinking in alternative methods of dispute resolution

Competencies Emphasized

• Strategic planning
• Contract selection and drafting
• Ability to instruct and manage lawyers
• Commercial management
• Negotiation skills
• Dispute resolution

Exceptional Features of this Seminar

An approach to the whole of contracts management, including both the technical legal issues indrafting, negotiating and managing, but also the project and contracts management issues. The intention is to provide a grounding in all important aspects, with a strong focus on practical solutions, not just theory.

10 Reasons Why You Cannot Afford To Miss This Seminar

1.     Learn in a friendly atmosphere

2.     Excellent programme

3.     Acquire an understanding of different contracting strategies

4.     Increase your confidence in handling contractual matters

5.     Help you reach the next level and prepare for future opportunities

6.     Improve your ability to work with others as part of a team

7.     Avoid disputes, and manage those that arise more efficiently

8.     Manage contracts more efficiently

9.     Share experiences with other delegates from varied industries

10.   Learn from a consultant with 30 years international contracts experience

 

Who Should attend?

Representatives of all functional disciplines would benefit from this course.  The course is particularly recommended for actual or potential purchasing, contracts or project professionals, and for anyone who contributes to projects, or is involved in the management of a business unit.

Course Outline

 

 

Day 1

What are contracts and how are they created?

·         The need for contractual relationships

·         What is needed to create a valid contract?

Ø  Offer and acceptance

Ø  Intention to create a legal relationship

Ø  Legal formalities in different countries

Ø  Signing and sealing

Ø  Authority to sign

Ø  How to prove authority

·         The tender process

·         Involvement of agents

·         What happens if there is no contract, but work is carried out anyway?

·         Making contracts enforceable – with particular emphasis on the international context

Day 2

Structure of contracts

·         Form of Agreement

·         General Terms and Conditions

·         Special Terms and Conditions

·         Schedules or Appendices

·         Risk and title

·         INCOTERMS

·         Notices and other formalities

·         Which law and which courts?

Day 3

Collateral documents

·         Bonds and guarantees

Ø  Tender Bonds

Ø  Advance Payment Bonds

Ø  Performance Bonds

Ø  Parent Company Guarantees

·         Retention/Withholding

Ø  Retention Bonds

Ø  Letters of intent

Ø  Letters of award

Ø  Letters of comfort or awareness

Day 4

Changes

·         Changes to the Contract documents

Ø  Need for consent

Ø  Assignment/Novation

Ø  Waiver

·         Changes to the scope

Ø  Changes and claims distinguished

Ø  Variation clauses

Ø  Notice provisions

Ø  Valuation of variations and changes

·         Delay and disruption

Ø  Delay caused by client

Ø  Delay caused by contractor/supplier

Ø  Force majeure

 Day 5

Resolving disputes

·         Negotiation

·         Staged dispute resolution clauses

·         Litigation

·         Arbitration

·         New best practices in dispute resolution

Ø  Mediation

Ø  Conciliation

Ø  Early neutral evaluation

Ø  Expert determination

Ø  Pendulum arbitration

 Final questions and review of course