INTRODUCTION

Every business and organisation are based on the underlying contractual structures which they adopt. The precise type of contractual structure employed varies from the most simple agreement to the more complex project documentation. The drafting and formation of these contracts are often left to the legal and experienced professionals but the organisation’s other individuals are left to manage the actual project or contract. These individuals need to understand the workings of the contract and the reasoning for the type of contractual structure used. In this programme you will study:

·         Different types of contractual structure

·         The skills of contract management

·         The secrets of interpreting contracts

·         Techniques for protecting the organisation through the use of contracts

WHO SHOULD ATTEND?

·         Those who doesn’t have sufficient understanding of contract issues, including Engineering, Project, Construction, Tenders, Buying/Purchasing Professionals

·         Those new to contracts, preparing for major projects, or anyone looking for a refresher

PROGRAMME OBJECTIVES

·         Understand the structure and purpose of contracts

·         Explain how different contract structures can be used to cover different risks

·         Enhance knowledge of important contract terms and conditions

·         Explain some of the dangers that exist within commonly-used contract clauses

TRAINING METHODOLOGY

Delegates will learn through active participation by way of interactive group discussion, real life group exercises and analysis of commonly used contractual provisions. The focus of the programme will be real life solutions to real life problems.

PROGRAMME SUMMARY

This programme covers essential fundamentals of contract management and contract analysis for non-contract professionals and personnel. The programme commences with consideration of the different types of contract structure and risk. The programme then moves on to consider the some of the fundamental clauses that are key concerns for good contract management.

We then look at some of the techniques we can use to solve disputes and disagreements between parties to the contract whilst focusing on the need to save essential business relationships.

PROGRAMME OUTLINE

DAY 1 - THE STRUCTURE OF CONTRACTS ·         Formation of a contract ·         The dangers of oral contracts ·         Contract components ·         Traditional contract structures ·         Modern contract structures ·         How to deal in today’s unsettled world economy

DAY 2 - IMPORTANT CONTRACT PROVISIONS ·         Standard of work ·         Controlling subcontractors ·         Programme of work ·         Extensions of time ·         Force Majeure ·         Changes and variations

DAY 3 - COLLATERAL DOCUMENTS ·         Letters of Intent ·         Letters of Award ·         Bonds and Guarantees ·         Parent Company Guarantees ·         Choice of Law ·         Choice of Courts

DAY 4 - PAYMENT AND BREACH OF CONTRACT ·         Payment terms ·         Dangers of late payment ·         Breach of contract ·         Types of damages ·         Liquidated damages ·         Negotiating solutions to contract management issues

DAY 5 - TERMINATION AND DISPUTE RESOLUTION ·         Suspension ·         Termination ·         Litigation ·         Arbitration ·         Mediation ·         Expert Determination