Best Practices in Contract and Procurement Management Course

Course Details

This intensive contracts and Procurement management training course is designed to assist contracts professionals cope with the increasing complexity of commercial and business relationships as trade becomes ever more international. All business professionals need to understand what a contract does (and does not) require them and the other party to the contract to do, and the consequences for both parties of any failure.

This training course will feature:

• The differences in approach between different legal and contracting systems
• Risk allocation in contract management and dispute resolution in contractual disputes
• Contracting in an international context
• Protecting your company's interests
• An understanding of contracting in the English language

Learning Objectives

By the end of this training course, participants will be able to:

• Improve their understanding of the role of contracts within a business
• Develop more confidence in dealing with contracting issues
• Understand how strategies can be developed to improve the commercial outcomes
• Apply the latest international thinking in dispute resolution
• Increase awareness of the use of contracts in everyday business life

Course Contents

• What are Contracts and how are they Created?
• The need for contractual relationships
• What is needed to create a valid contract? Ingredients and formalities
• Authority and agency
• The tender process
• Alternative sourcing
• Making contracts enforceable with emphasis on the international context
• The Structure of Contracts
• Form of Agreement
• Hierarchy of Terms and Conditions
• Different contractual structures
• Traditional and new
• Risk and Title (ownership) in international trade. When does it transfer?
• Notices and other formalities
• Which law and which courts?
• Collateral Documents
• Securitizing performance obligations
• Bonds and guarantees
• Parent company guarantees
• Letters of intent, comfort or awareness
• Insurance policies
• Assessing the need for financial security
• Change and Variation
• Changes to Contract documents
• Assignment/Novation explained and distinguished
• Variation clauses and changes to the scope of work
• Claims what they are, and how they arise
• Delay and disruption
• Force majeure
• Resolving Disputes
• Conflict avoidance and tiered dispute resolution clauses
• Negotiation
• Litigation
• Arbitration
• Mediation, and new best practices in dispute resolution and management
• Final questions and review of course

Who to Attend?

This training course will benefit all levels of personnel engaged in contract management, negotiation, procurement, operations, and disputes. This training course is suitable to a wide range of contracts professionals but will greatly benefit:

• Contract Administrators, Contract Professionals and Project Coordinators
• Specifiers, Buyers, Purchasing Professionals and Procurement
• Officers Contracts managers  
• Project managers
• Engineers or contracts operatives