- 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 examples, often from the trainer’s own experience 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.
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 and key elements of a Contract.
- Oral or written? Electronic contracts and Terms of the contract
- Inter-business contracting.
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.
Day 3: Different Contracting Strategies in International Contracts
- Some types of Standard Form/Model Form Conditions.
- Drafting Standard Terms.
- Potential problems with Standard Form Contracts.
- Limiting or excluding liability.
- 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).
Day 4: Contract Management and the management of change and payment
- The need for good contract management.
- Variation of Contract Terms and Scope of Work.
- Management of Variations and retaining control of the contract.
- Delay, suspension and extension of time.
- Finance and Payment in International Trade.
Day 5: Resolution of Disputes
- Negotiation, compromise and settlement.
- Litigation and Arbitration.
- Alternative Dispute Resolution - including mediation.
- Managing disputes.
- Review of programme, and final questions.
Language: English/Arabic
Place: London – UK.
Venue (TBC): Radisson Edwardian Sussex Hotel (Address: 19-25 Granville Place, Marylebone, London W1H 6PA – UK).
