Course details

Overview ?

INTRODUCTION

Contracts establish the responsibilities and rights of the parties. This highly interactive programme will provide a practical hands-on approach to effective management of contracts and offer techniques and contract strategies to assist this process. It will also assist in establishing an international risk management strategy with reference to contracts and develop good business practice to take advantage of opportunities, enhance efficiency and increase profitability.

In this programme you will learn how to:

enhance your contract management skills to improve contract and company performance
develop systems to reduce the frequency of contractual disputes
resolve such contractual disputes as do occur in an efficient fashion
manage contracts and projects from the pre-contract, during the performance of the contract and through to the post-contract stage in accordance with best practices
enhance profitability, not only by increasing money coming ‘in’ from contracts, but also by preventing unnecessary sums going out’ in operational disputes

This is not a law programme. It is the development of commercial awareness of delegates through practice of effective management procedures assisted by a working knowledge of necessary legal principle.

ILM CERTIFICATION

The Certified Contracts Professional is endorsed by the Institute of Leadership and Management (ILM). Delegates will complete an assessment at the end of the programme and, if successful, will become certified with the ILM. The assessment will focus on the topics covered by this programme.

PROGRAMME OBJECTIVES

understanding of necessary contractual and legal knowledge
understanding of and application of different types of agreements
increased commercial awareness needed to enhance smooth running of contracts
increased ability to manage contracts with a view to reducing claims and conflict
ability to identify and mitigate risk factors and associated commercial and programme implications
understanding of the importance of good record keeping and service of contractual notices
increased understanding of commercial liabilities resulting from schedule changes and variations
improved ability, successfully to negotiate and maintain long term inter-business contracts with confidence
understanding of the need to deal with issues as they arise and to resolve disputes within the contract structure wherever possible
ability to analyse, negotiate and implement the most appropriate method of resolving disputes preventing escalation by early identification

TRAINING METHODOLOGY

The programme will combine conventional teaching based on real-life exmaples, often from the trainers own experienance and with a high level of participation, including an interactive approach to involving participants in discussion of topics, exercises and encouraging participants to bring their own experiences forward for discussion and debate.

PROGRAMME SUMMARY

The programme will address the framework within which contracts are created, and the methods by which valid contracts may be formed. It will also look at some of the different contracting strategies available in international contracting and some of the common provisions. It will also look in particular at payment issues and post-contract liability. The programme will consider how to avoid disputes by good contract management and the various methods of resolving those disputes that do arise. This will include current international best practice in Alternative Dispute Resolution in general, and mediation in particular.

PROGRAMME OUTLINE

DAY 1 - The Legal Framework of Contracts and how they are created

The need for contractual relationships
External and internal dimensions of a business relationship
Formation of a Contract
The key elements of a contract
Oral or written?
Electronic contracts
Terms of the contract
Inter-business contracting
Law of Agency
Sources of Law
Developing legal knowledge and skills

DAY 2 - Some issues arising in contracts

Precedence of documents in a contract
Obligations to perform
Delivery, acceptance and transfer of title and risk
- ICC Incoterms
Liability in negligence - relationship with contract conditions
Product liability and defective goods
Intellectual Property clauses - some special issues
Letters - Intent; Instruction/Award; Comfort; Awareness
Conflict of Laws and Choice of Law and jurisdiction Clauses

DAY 3 - Different Contracting Strategies in International Contracts

Some t ypes of Standard Form/Model Form Conditions
Drafting Standard Terms
Potential problems with Standard Form Contracts
Limiting or excluding liability
Unequal Bargaining Positions
Traditional contracts
- Fixed Price/Lump Sum
- Bill of Quantities/Schedule of Rates – re-measured contracts
- Full reimbursable – “cost plus” – why this is sometimes the right answer
- Dealing with volatile markets – economic price adjustment clauses and the use of indices
- Adding incentives to lumps sums
Non-Traditional contracts
Build Own Operate and similar structures
Alliances and Partnering
No Cure/No Pay – a technique from marine salvage that has wider uses

DAY 4 - Contract Management and the management of change and payment

The need for good contract management
Variation of Contract Terms
Variation of Scope of Work
Management of Variations and retaining control of the contract
Payment and money events
Delay, suspension and extension of time
Finance and Payment in International Trade
Bonds and Guarantees
Defects Liability - warranty periods
- Managing rolling warranties
Termination of the Contract and Remedies
Mitigation of losses and claims

DAY 5 - Resolution of Disputes

Negotiation, compromise and settlement
Litigation
Arbitration
Alternative Dispute Resolution - including mediation
Managing disputes
Review of programme, and final questions

Day 1

Day 2

Day 3

Day 4

Day 5

Training Methodology

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