Introduction
In international transactions, the parties may have different values and customs. They have to adhere to different sets of governmental regulations. They are subject to separate and distinct laws under disparate legal systems.
So, to take a very basic example, the terms and conditions that are applied locally may not be enforceable internationally. Thus, a new approach and an "international outlook" must be incorporated into the company ethos in international contract management to consider these important factors.
In addition to tendering and contractual issues that can arise in domestic transactions, the parties must also learn to deal with all subjects in the international contract management context, such as logistics, export and import regulations, differing technical standards, foreign tax issues, payment, and foreign currency exchange.
This fast-paced international contract management course is an introduction to global sourcing and international contracting, designed to alert you to the many issues involved when working in the international arena.
Contract Management Expertise
Recognition in international contracting is often solidified through certifications obtained from reputable contract management certificate programs. Professionals seeking to enhance their expertise and credibility may consider enrolling in acclaimed contract management training and obtaining a well-regarded contract management certification.
This course provides insights and practical knowledge that can form the basis for international contract management certification programs, offering a stepping stone for those aiming to become certified international contract managers.
From the contract management seminar that touches upon the nuances of international contracting to the comprehensive course on contract management designed for robust learning, participants in this training will emerge with a skill set aligned with the best practices in international contract management.
Targeted Groups
- Purchasing, projects, and contracts professionals.
- Supply management, operations, and maintenance professionals.
- Engineering and quality professionals.
- Project management professionals.
- This international contract management course is for anyone who is now, or in the future, involved in sourcing goods or services outside their own country and ethical or legal problems arising from differing labor or health and safety standards, etc.
Course Objectives
At the end of this international contract management course, the participants will be able to:
- Understand the challenges presented by foreign currency exchange rates.
- Draft and develop international contracts to protect their organization's interests and reduce risk.
- Understand the international labor rates.
- Know the global sourcing process and methods of finding international suppliers.
- Select items and services for global sourcing.
- Avoid the most common problems in changing suppliers.
- Recognize the different approaches to global sourcing and the benefits and disadvantages of each.
Targeted Competencies
Upon the end of this international contract management course, the target competencies will be able to develop:
- International sourcing methods.
- Selecting the appropriate contract clauses.
- Developing delivered prices for international transactions.
- Locating international suppliers and contractors.
- Methods of providing currency protection.
- International labor rates.
Course Content
Unit 1: Why Global Sourcing?
- Why do organizations outsource?
- Reasons for going global.
- Using global sourcing to penetrate existing markets.
- The global sourcing process.
- International labor rates.
- Process for selecting items or services for global sourcing.
Unit 2: Global Sourcing Approaches
- Sales offices of global suppliers.
- 3rd parties are based and located in the country.
- Overseas sourcing agents.
- International purchasing offices.
- Going direct.
- Identifying potential suppliers.
- The preliminary interest request.
- Qualifying potential suppliers.
- International tenders.
- Dealing with other cultures.
Unit 3: Developing The Landed Price
- International pricing issues.
- Currency issues.
- Import duties.
- Transportation.
- INCOTERMS.
- Brokers and forwarders.
- Payment terms and methods of payment.
Unit 4: International Terms and Conditions
- Convention on Contracts for the International Sale of Goods (CISG).
- Sources for standard terms and conditions.
- The critical integration clause.
- Liquidated damages/penalties.
- Bonds and bank guarantees.
- Changes clauses.
- Conflict of laws and choice of law clauses.
- Suspension and termination.
- Acceptance clauses.
- Contract clauses that assist in the prevention of fraud and corruption.
Unit 5: Negotiations, Resolution of Disputes, And Completion
- Negotiations internationally on the contract.
- International contract administration.
- Check the contract before the shipment checklist.
- Export checklist.
- Shipping and import checklist.
- Warranty issues.
- Dispute resolution clauses.
