WHO SHOULD ATTEND?

All non-contract/legal specialists who are involved in any step of the contracting process including technical and non-technical professionals who would like to learn about the elements, concepts, types and the process of contracting.

COURSE OUTLINE

Day 1 : An Introduction to Contracts

·       Understand the notion of offer and acceptance

·       Understand the importance of agreement of main terms

·       Understand the implications of contractual agreement

·       Understand the fundamentals of commercial law and obligations

·       Understand the key relationships that underpin these obligations

·       Understand the potential consequences for breach of contract

·       Understand the concept of legal jurisdiction in contract

Day 2 : Commercial Relationships and Obligations

·       Explain the contracting structure of international business relationships

·       Understand some of the key terms used in the  commercial world

·       Explain what applied contract law is all about

·    Understand the basic relationships involved in: Agency, Partnerships, International Sales (and use of Incoterms), Insurance, Intellectual Property, Dispute Resolution, Insolvency and Bankruptcy

Day 3 : Types of Contractual Agreement

·       Distinguish between the various contracts

·       Consider different commercial arrangements, and how these are covered by contracts

·       Conventional contracts – lump sum, schedule of rates, bills of quantities, reimbursable

·       Other approaches – risk and reward sharing, BOT contracts

·       Different management approaches for different contracts

Day 4 : Standard Contracts and Common Terms

·       The concept of the model contract

·       The use of industry and company standard terms

·       A review of some of the clauses in common use in many types of contract including warranties, defects liability, variations, liquidated damages and penalties, limits of liability, suspension and termination

·       The contract management issues arising from some of these clauses

Day5 : Contract Management and Risk Assessment

·       The role of the contract manager and administrator

·       The methods for controlling third party risk

·       The concept of consequential loss

·       The concept of frustration of contract and Force Majeure

·       Closing out contracts – and keeping records