Course Details
Your Growth, Our Mission
Course Description
Contracts are used in commercial situations for two primary purposes: (1) to create a record of the terms of the agreement between the parties, and (2) to protect the legitimate interests of those parties. Striking the appropriate balance between these is the challenge, often unappreciated, of the person drafting the contract. This program is designed to help those involved in all stages of the contracting process to understand, anticipate and manage the consequences of the contracting process. Moreover, we will address the tension between commercial and legal interests and suggest methods of rationalizing, if not satisfying, the objectives of both perspectives.
The Training Course Will Highlight ?
- Why you should understand contract law before you create the contract
- The principles of contract law that must be incorporated into all of your agreements
- Why prevention should be your overall objective in creating a contract
- How to protect your company’s interests without killing the deal
- How to effectively and efficiently make use of forms and existing contracts
- The meanings and usage of legal terms that impact your contracts
- Why the contract for goods will differ from the contract for services
- How to minimize conflicts between your boilerplate and theirs
- How to create a contract that is clear and well accepted in commercial settings
Training Objective
- Why you should understand contract law before you create the contract
- The principles of contract law that must be incorporated into all of your agreements
- Why prevention should be your overall objective in creating a contract
- How to protect your company’s interests without killing the deal
- How to effectively and efficiently make use of forms and existing contracts
- The meanings and usage of legal terms that impact your contracts
- Why the contract for goods will differ from the contract for services
- How to minimize conflicts between your boilerplate and theirs
- How to create a contract that is clear and well accepted in commercial settings
Target Audience
- Contract Managers & Administrators
- Procurement & Supply Chain Professionals
- Finance & Commercial Managers
- Project Managers
- Legal & Compliance Officers
- Business Development & Sales Professionals
- Executives & Entrepreneurs
- Professionals involved in drafting, negotiating, or managing contracts
Training Methods
This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include;
- Lectures
- Workshop & Work Presentation
- Case Studies and Practical Exercise
- Videos and General Discussions
Daily Agenda
Day 1 – Foundations of Contract Law
- Importance of contracts in commercial settings
- Balancing legal protection and business interests
- Core principles of contract law
- Key legal terminology and their impact
- Lessons from common contract pitfalls
Day 2 – Structuring and Drafting Contracts
- Anatomy of a well-structured contract
- Differences between goods and services contracts
- Drafting clear and precise clauses
- Strengthening warranties and protective terms
- Reviewing and improving sample contracts
Day 3 – Negotiation and Risk Management
- Using contracts strategically in negotiations
- Supplier vs. buyer perspectives
- Managing conflicts in boilerplate clauses
- Negotiating key terms and allocating risks
- Revising supplier contracts for better outcomes
Day 4 – Selecting the Right Contract Type
- Overview of contract types: fixed-price, cost-plus, framework, SLA
- Choosing the best contract type for the situation
- Compliance with financial and legal requirements
- Case studies from real disputes
- Cross-border and international contract considerations
Day 5 – Practical Application and Integration
- The full contract lifecycle: drafting to execution
- Best practices for contract management and record-keeping
- Leveraging templates and digital tools
- Capstone exercise: drafting and negotiating a complete contract
- Key takeaways and action planning
Accreditation
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BTS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.
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