Course Details
Your Growth, Our Mission
Course Description
Every day significant monies are made and lost by organizations as a result of the contractual terms and conditions governing contracts for the purchase of goods, equipment, and services.
Since all business activities are governed by contractual relationships, it is increasingly important for all those dealing with outside organizations to understand how to obtain the best possible agreement for their organization.
The Essentials of Contracting and Contract Dispute Resolution training course will help delegates to develop their ability to negotiate contracts effectively. It will equip them with a range of interpersonal skills, and an appreciation of the elements of planning and objective setting in negotiations.
The Training Course Will Highlight ?
Training Objective
Target Audience
The Essentials of Contracting and Contract Dispute Resolution training course is Ideal for :
- Contracts & Contracting Unit Personnel
- Project Professionals
- Procurement & Purchasing Personnel
- Commercial Professionals
- Anyone involved in the management of risk.
Training Methods
Daily Agenda
Day 1: Importance of Contracts, and How to Prepare?
- Need for contracts and how to prepare
- Laws and regulations in a contract
- Understanding the tender process
- Concept of Law of Agency (Agency Authority)
- Methods of strategic sourcing (alternative sourcing strategies)
Day 2: Documents for Security/ Guarantee
- Understanding of the concept of bonds and guarantees
- Security/guarantee documents for the parent company
- Insurance policies relating to contract
- Importance of financial security
- Performance security in a contract
- Letters of intent in a contract
Day3: Format/Layout of a Contract
- Different forms of agreement
- How to put the terms and conditions in a contract
- Different types of contracts for a project
- Contract for International Trade ( title ownership) and risks associated with it
- Reaction and preparation of notices
- Understanding the legal process
Amendments/Changes to Contract Documents
- Change in clauses to a contract
- How do changes in work affect the project contract?
- How to manage claims? , understanding the reason for claims
- How does a delay in the project affect the project contract?
- Understanding and distinguishing between “Novation” and “Assignment” in a contract
Day 4: Resolving Conflicts/Disputes in a Project Work
- Understanding how and when disputes occur
- How to avoid conflict?
- Understanding how to negotiate and mediate
- Understanding the concept of “Litigation” and “Arbitration”
- Novel practices of dispute management
Day 5: Resolving Differences and Difficult Situations
- The negotiator as a mediator in the process
- Handling difficult negotiators
- Negotiation case study
- Team allocation and simulation exercise
- The Do’s and Don’ts of Negotiating
- Improving what we do - action planning
Accreditation
BTS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.
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