Introduction:
This highly interactive training seminar focuses on how your organization can minimize its exposure to risk, reduce costs, and the potential for disputes by discussing the key aspects of understanding, drafting, and negotiating contracts. It identifies how clear and concise drafting can produce greater efficiencies in your organization. It also features how to monitor and manage performance failures, and provides tools, tips, and techniques on effective resolution of disputes to minimize cost and reputational risk exposure to your organization.
Skilled negotiators can help not only to minimize risk and increase profit for your organization, but can also set the foundation for long and mutually beneficial relationships. This training course provides practical guidance and key strategies and techniques to appreciably enhance your ability to negotiate more favorable contracts, and to better negotiate solutions to disputes that may arise
Targeted Groups:
- Project and General Management
- Contracts administrators, managers and claims handlers
- Procurement and purchasing staff
- Engineering, operational and maintenance personnel
- Commercial, financial and insurance professionals
Course Objectives:
At the end of this course the participants will be able to:
- Evaluate the most appropriate contracting strategy
- Assess and manage key contractual risks
- Identify and avoid drafting pitfalls
- Compare ways of dealing with performance failures
- Negotiate deals, contracts and disputes successfully
- Understand how contracts can be used to manage risk
- Recognize the use of different contracting strategies
- Learn the ways of dealing with performance failures
- Learn strategies, tools, and techniques for effective negotiation
- Manage claims and resolving disputes
Targeted Competencies:
- Broadening the knowledge of a variety of contracting strategies
- Extending the understanding of key risk areas and their management
- Improving the knowledge of contract formation and proper drafting
- Developing the knowledge of monitoring and managing performance failures
- Enhancing the strategic negotiation skills
- Boosting the confidence in dealing with potential disputes
Course Content:
Unit 1: Function, Formation, and Validity of Contracts:
- Key Principles
- Choosing the Right Strategy
- Structure, Format, and Incorporation of Documents
- Language, Words and Phrases
- How to Avoid Drafting Pitfalls
- Use of International Standard Forms
Unit 2: Main Contract Clauses:
- Delivery, Performance and Acceptance
- Title and Risk
- Programming and Completion
- Changes and Variations
- Price and Payment Terms
- Security and Withholding Rights
Unit 3: Other Key Clauses:
- Force Majeure
- Intellectual Property Rights
- Indemnities and Insurance
- Bonds, Guarantees, Warranties
- Remedies for Default
- Damages and Limits/Exclusions of Liability
Unit 4: The Role of Negotiation:
- What Is It – Why Use It?
- Characteristics of a Good Negotiator
- Negotiation Strategies
- Key Stages of Negotiation
- Tools and Techniques
- Negotiation in Practice
Unit 5: Dispute Management:
- Choice of Law, Forum and Jurisdiction
- Contractual Management of Disputes
- Alternative Dispute Management Strategies
- Litigation or Arbitration?
- Enforcement Measures
