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Contract Management Best Practices

Overview
All business activities are governed by contractual relationships, and it is increasingly important to have an understanding of how contracts can be created and structured, and some of the various methods available to negotiate contracts, and to resolve disputes.

This course is not intended to turn delegates into lawyers. It is, however, intended to increase their appreciation of the reasons their lawyers take certain positions, and the ability to instruct lawyers more effectively.

The course will look at how contracts are created, and some of the main clauses that appear in contracts, together with a number of alternative contracting strategies and structures, all using real examples wherever possible. The course will then consider methods to be used in negotiating contracts, including techniques relating to negotiating on variations and claims.

The course will deal with the commercial implications of Major Business Agreements written in the English language, but will use techniques which have wide application to many types of contract in many countries.

Unique features of this Seminar

  • A broad overview of contracting from both a legal and practical angle
  • Covers the whole life of a contract from formation through to close-out
  • World class practice from other regions and industries

10 Reasons why you should not miss this seminar
By attending this seminar, you will:

  1. Gain  an opportunity to review contracts and their importance to business
  2. Be able to get a broad view of importance of contracts and their role in the management of projects
  3. Understand the different roles of the terms and conditions associated with contracts
  4. Learn negotiation skills that will be usable in a wide range of situations
  5. Be brought up to date on the latest thinking in dispute resolution
  6. Improve your strategic thinking on how to develop contracts
  7. Learn tactical techniques for the drafting and management of contracts
  8. Improve your understanding of contract wording in the English language
  9. Identify where things can go wrong, and learn how to avoid problems, or mitigate their effects through well drafted contracts and good management
  10. Improve your ability to interface with other professionals working in a contract team

PROGRAMME OUTLINE

DAY 1

  • The Process of Contract Management
    • What is contract management?
    • Why do we need contracts?
    • A view of contract management from both the buyer’s and seller’s perspectives
  • Understanding the Concepts of Contract Law 
    • Elements of a legally enforceable contract
    • Terms and conditions
    • Remedies to breach
    • Interpreting contract terms and conditions
  • Roles and Responsibilities in Contracting
    • Agency
    • Authority 
    • Privity

DAY 2

  • Types of Contracting Methods
    • Competitive and noncompetitive contracting
      • Sealed bidding
      • Two-step sealed bidding
      • Competitive negotiation
      • Competitive proposals
      • Reverse auctions
    • Purchase agreements vs. contracts
    • The role and implications of single-source and sole-source contracting
  • Contract Types and Pricing
    • The implications of risk and uncertainty in contract pricing
    • Types of contracts
      • Fixed-price
      • Incentives
      • Cost-reimbursement
      • Time and materials
    • Considerations in selecting the right type of contract
  • Main contract provisions and associated issues
    • Obligation to perform work
    • Insurance and indemnities
    • Force majeure
    • Limits of liability
    • Consequential loss
    • Transfer of title and risk
    • Delivery and acceptance
    • Termination and Suspension
    • Warranty and guarantee periods
    • Notices
    • Entire Agreement 

DAY 3

  • The Pre-award Phase
    • Procurement planning
    • Solicitation
    • Making the “bid / no-bid” decision
    • Preparation of proposals
  • The Award Phase
    • Source selection considerations
    • Selection criteria
      • Management
      • Technical
      • Price
    • Evaluation procedures and standards
    • Objectives and the process of contract negotiation
    • Negotiating a contract
      • Tactics and counter tactics (buyers vs. sellers)
      • Documenting the agreement
  • The Process of Contract Administration
    • The purpose of contract administration
    • The importance of communication
    • Responsibilities of buyers and sellers
    • Contract analysis
    • Monitoring progress and performance
    • The importance of documentation: records and files
    • Managing contract changes
    • Resolving claims and disputes
    • Termination (planned or early




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