Course Details
Your Growth, Our Mission
Course Description
Many project fails due to contracts not properly prepared and set up. Also, unnecessary disputes take place due to improper preparation of contracts. Even whenever the contracts are available, they do not reflect the basic of the cooperation and the complexity of the works. Good contract will lead to efficient and effective costs, minimum risks and timely execution of project completion. This course will give you the hands-on practice of contract writing based on real life experience of working in contracts area. The participants will have more time to practice rather than listening to theories. Computers will be provided to put in the theory into contract practice.
The contract is at the heart of all commercial transactions. Those involved in these transactions have the duty as agents of the organization to develop a high level of competency in contract writing, planning and management. Recognize the main contractual provisions and appreciate their effects on the implementation and management of future contracts. This course will enable the candidates to understand the importance of knowing the contractual terms and conditions and review the techniques for solving problems and partnering with contractors. This program is designed to assist in that development by providing:
· The contract planning process
· Thorough understanding of contract types
· The critical elements of a contract
· Specific contract clauses to improve performance
The Training Course Will Highlight ?
This program is designed to assist in that development by providing:
- The contract planning process
- Thorough understanding of contract types
- The critical elements of a contract
- Specific contract clauses to improve performance
Training Objective
This program is designed to assist in that development by providing:
- The contract planning process
- Thorough understanding of contract types
- The critical elements of a contract
- Specific contract clauses to improve performance
Target Audience
Contracts, Purchasing, and Project Personnel, Engineering, Operational, and Maintenance Personnel, Project and Contracts Management Professionals, Tendering, Purchasing, Contract Administration Professionals and Personnel, Engineering, Operational, Finance, Maintenance Professionals, Managers and executives in the procurement, finance, legal, risk and supplier relations department, Business Managers, Commercial staff, Project Engineers, Procurement staff, Legal staff, Contracts analysts & Officers, Contract Leaders & Engineers, Cost & Planning Engineers, Contract Administrators, Contracting Unit Supervisors, Claims Managers and Business Audit Officers, Contract Strategists, Project Managers, General Managers involved in contract negotiation and disputes, Commercial Managers, Buyers, Purchasing Managers, Tenders Managers, Supply Chain Managers & Executives, Procurement Managers & Personnel, Construction Managers, those involved in the planning, evaluation, preparation and management of tenders, awards and contract performance that cover the acquisition of materials, equipment and services.
Training Methods
Daily Agenda
Day 1: Contract Introduction
- Contract Management
- Defining Contract Management
- Essential Activities in Contract Management
- Planning the Contract
- Who writes the Contract
- The importance of the Contract
- Reviewing the Tender Request
- Identify Basic Planning Assumptions
- Reviewing Historical Data Check List
- Statement of Work
- Types Of Statement Of Work
- SOW Impact On The Contract
- Basic Items That Should Be In A Statement Of Work
Day 2: Conduct Risk Assessment
- Elements of Risk
- Commercial Issues vs. Legal Terms
- Basic Contract Types
- Fixed Price
- Cost Plus Fixed Fee
- Time and Material
- Incentive or Award
- Economic Price Adjustment
- Important Elements of the Contract
- Format Of The Contract
- Essential Elements
- Objectives of the Contract
Day 3: Specific Contract Clauses
- Integration
- Buyer’s Rights Before Performance Is Due
- Inspection, Acceptance, Rejection
- Warranties
- Major Issues Related To Warranties
- Performance-Based Service Contracts
- Uniqueness of Service Contracts
- Performance Measures
- Penalty Clauses
- Legality of Penalty
- Liquidated Damages
- Contract Clause for
- Force Majeure/Delays
- Governing Law
- Assignment
- Spare Parts
- Consumables
- Price Protection
- Writing Clauses for
- Delivery/Shipping
- Price/Payment
- Methods of Payment
- Progress Payments
- Large Software Acquisitions
Day 4: How to deal with Contract Changes
- Major Reasons for Changes
- Change Control
- Completion and Expiration
- Termination & Cancellation
- Letters of Intent
- Course of Performance
- Course Of Dealing
- Usage of Trade
- Breach of contract
- What constitutes a Breach?
- Remedies for Breach of Contract
- Bonds and Guarantees
- Types of Bonds & Guarantees
Day 5: Disputes Resolution
- What is a Dispute?
- Methods to Resolve
- Preparing for Contract Disputes
- Contract Clauses for Disputes
- Clauses of Fraud Prevention
- Anti-corruption Procedures
- Price or Fee Adjustment for Illegal or Improper
- Activity
- Contract Review Process
- Developing the Check List
Accreditation
BTS attendance certificate will be issued to all attendees completing minimum of 75% of the total course duration.
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