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Introduction to the course
This Commercial and Business Contracts training course will provide participants a comprehensive understanding of procedures and practice related to the risks inherent in the formation and management of contracts. Through analysis of real life examples, this Contract Management training course demonstrates how to manage contract risk effectively and to ensure contract negotiations and performance occurs quickly and efficiently. Contracts are valuable and useful tools for companies to maximise value for businesses and minimise risk of loss or things going wrong. Businesses cannot continue to focus on pricing and key commercial terms alone.
Contracts are vitally important for any business. Understanding and managing contract risk is critical for companies and senior employees. The business and competitive advantages of managing contracts effectively produces significant benefits and a failure to fully understand risk related items in a contract can result in lost opportunities and costly disputes.
The highlights of this Commercial and Business Contracts training course are:
- Creation of contracts including legal effectiveness and structure
- Key contract clauses focusing on payment and non-payment remedies
- Securing performance of a party’s obligations in the contract
- Liability for breach of contract
- Dispute resolution and important considerations
Course details
- Analysis of the risks inherent in the formation and management of contracts
- Explain key contract provisions and provide instruction on how to manage contract risk effectively
- Interpret essential contract clauses and understand the specific terms and conditions
- Develop your ability to negotiate an effective contract to protect your corporation’s interests
- Discuss where things can go wrong, and learn how to avoid problems, or mitigate their effects through well drafted contracts and good management
- Recognize how to avoid disputes but be prepared to deal with them if they arise
This Commercial and Business Contracts training course will involve the attendees in as much participation as possible with discussion and exercises on particular topics. Presentations will be kept short and topical to maximise interest and participation. Topics will be designed as far as possible to be clearly relevant to the business issues faced by or likely to be faced by the delegates.
- Ensuring that the organisation effectively manages the creation of contracts
- Improve contracting processes within the organisation
- Enhance transactional and litigation risk control within the organisation
- Delivering greater value to the organisation by the use of more effective contract performance provisions
- Minimising costly disputes caused by unclear or inappropriate contract clauses and maximising the benefits available
- Increased awareness of methods of dealing with disputes to ensure that commercial relationships are maintained and enhanced
- Increased understanding of contracting process
- Enabling more effective control of the contracting process
- Understanding the importance of key contractual clauses
- Determining appropriate allocation of risk in contracts
- Developing enhanced contract management and administration skills
- Improving the ability to avoid costly contractual disputes
This training course will benefit all professionals negotiating and dealing with contracts and managing relationships within the organisation.
This Commercial and Business Contracts training course would also benefit:
- Contract and Purchasing Personnel
- Project Management Professionals
- Other employees in corporate or governmental organisations who have a responsibility for drafting, negotiating, or approving contracts.
- Professionals such as legal and financial staff
- Any personnel involved or interacting with contracts
Daily Agenda
DAY 1:
How Contracts are Created
- Quantifying Risks
- The Benefits of Understanding Contracts
- The Pitfalls of Getting It Wrong
- Controlling the Contract Process
- Understanding the Deal
- Controlling the Negotiation
- Contract Formation
- Offer and Acceptance
- Battle of the Forms
- Consideration and Intention
- Does a Contract have to be written?
- Pre-contractual Issues and Documents
- Due Diligence, Permits, and Financial Stability
- When are you committed?
DAY 2:
Controlling the Contracting Process
- Auctions, Bids and Tenders
- Invitations to Tender and Treat
- Heads of Terms and Letters of Intent
- Bonds and Guarantees
- Standby Letters of Credit
- Form of Agreement
- Contractual Structures
- Incorporating Standard Terms of Business
- Informal Contracts
- Letters of Comfort
- Subcontracts and Warranties
DAY 3:
Key Contract Clauses
- Pre-contracts and Post Contract “qualification phrases”
- Subject to Contract
- Without Prejudice
- Subject to Client Comment
- Securing Payment
- Payment Obligations
- Non Payment Remedies
- Letters of Credit
- Guarantees
- Delivery, Ownership and Risk
- Time and Place of Delivery
- Late and Failed Delivery
- Damage in Transit
- Ownership and Acceptance
- Transfer of Title and Risk
- Retention of Title
- Time of the Essence
- Liquidated Damages
DAY 4:
When Things Go Wrong
- Contract Liability
- Managing Liability
- Limits of Liability
- Damages
- Insurance and Indemnities
- Product Liability
- How a Claim is Brought in Contract
- How a Claim is Brought in Negligence
- Practical Risks
- Frustration of a Contract
- Force Majeure
- Notices and Service
- Entire Agreement & Waiver
- Interpretation and Signing
- Authority to Sign a Contract
- Power of Attorney
- When do Contracts End?
- Termination / Discharge
- Transfer
- Variation
- Mistake
DAY 5:
Disputes and Compliance
- Choice of Law
- Choice of Dispute Resolution
- Negotiated Settlement
- Litigation
- Arbitration
- Mediation, Adjudication, and Experts
- Settlement Issues
- Enforcement of Judgements and Awards
- Jurisdiction
- The Importance of Business Integrity
- Bribery
- Corruption
- Money Laundering
- Competition Law
Frequently Asked Questions
There are no prerequisites. Our courses are open to students of all backgrounds who are 18 years of age and older. All courses are conducted in English. Video lectures include English subtitles and the option to slow-down, pause, or replay lectures for better retention. Discussion boards are a critical component of each of our courses; therefore, we suggest students have a conversational knowledge of English when pursuing a Certificate of Completion. For any of the art writing courses, students need to be 100% proficient in written English.
You should have an up-to-date web browser such as: Chrome, Safari, Firefox, or Internet Explorer. For more detailed information, please see the guides for supported browsers and basic computer specifications. Our Online Courses can be accessed on a mobile or tablet device, although we strongly encourage you to have access to a desktop or laptop computer and reliable internet connection for certain course components. Former students have told us it is easiest to read discussion threads and complete written assignments on a laptop or desktop computer.
Registration is available on our website. Just follow these simple steps: Click the “Apply Now” button in the top right corner of your screen. Select “Online Courses.” Choose your course(s). You will be asked for basic contact information and your credit card payment. We require full payment at the time of registration and all tuition is billed in US dollars. Be sure to check with your bank or credit card company, as your financial institution may charge a foreign transaction fee.
Our classes are kept small, at no more than 30 students, to better facilitate and encourage personalized interaction with the instructor and fellow participants. Your classmates come from all over the globe and contribute their global perspectives and experience. Some are currently working within the arts while others are just beginning. All classmates share in their passion for the art world.
It is recommended that you begin your course promptly. If you do need to start the course a few days late, contact your instructor as soon as possible after the course has opened to discuss your options. Registration closes on the Friday after the course begins.
Enroll now
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Course customization available
Course customization available
This training course is available to be conducted at your own pace & at your own time. Request for a quotation now and our training advisor will contact you shortly
