INTRODUCTION
Contracts establish the responsibilities and rights of the parties. This highly interactive program will provide a practical hands-on approach to the effective management of contracts and offer techniques and contract strategies to assist this process. It will also assist in establishing an international risk management strategy with reference to contracts and develop good business practices to take advantage of opportunities, enhance efficiency, and increase profitability. In this program you will learn how to:
- enhance your contract management skills to improve contract and company performance
- develop systems to reduce the frequency of contractual disputes
- resolve such contractual disputes as do occur in an efficient fashion
- manage contracts and projects from the pre-contract, during the performance of the contract, and through to the post-contract stage in accordance with best practices
- enhance profitability, not only by increasing money coming ‘in’ from contracts but also by preventing unnecessary sums from going out in operational disputes
This is not a law program. It is the development of commercial awareness of delegates through the practice of effective management procedures assisted by a working knowledge of necessary legal principles.
PROGRAMME OBJECTIVES
- understanding of necessary contractual and legal knowledge
- understanding of and application of different types of agreements
- increased commercial awareness needed to enhance the smooth running of contracts
- increased ability to manage contracts with a view to reducing claims and conflict
- ability to identify and mitigate risk factors and associated commercial and program implications
- understanding of the importance of good record keeping and service of contractual notices
- increased understanding of commercial liabilities resulting from schedule changes and variations
- improved ability, successfully to negotiate and maintain long-term inter-business contracts with confidence
- understanding of the need to deal with issues as they arise and to resolve disputes within the contract structure wherever possible
- ability to analyze, negotiate and implement the most appropriate method of resolving disputes preventing escalation by early identification
TRAINING METHODOLOGY
The program will combine conventional teaching based on real-life examples, often from the trainers' own experience, and with a high level of participation, including an interactive approach to involving participants in a discussion of topics, and exercises and encouraging participants to bring their own experiences forward for discussion and debate.
PROGRAMME SUMMARY
The program will address the framework within which contracts are created, and the methods by which valid contracts may be formed. It will also look at some of the different contracting strategies available in international contracting and some of the common provisions. It will also look in particular at payment issues and post-contract liability. The program will consider how to avoid disputes through good contract management and the various methods of resolving those disputes that do arise. This will include current international best practices in Alternative Dispute Resolution in general and mediation in particular.
PROGRAMME OUTLINE
DAY 1 - The Legal Framework of Contracts and how they are created
- The need for contractual relationships
- External and internal dimensions of a business relationship
- Formation of a Contract
- The key elements of a contract
- Oral or written?
- Electronic contracts
- Terms of the contract
- Inter-business contracting
- Law of Agency
- Sources of Law
- Developing legal knowledge and skills
DAY 2 - Some issues arising in contracts
- Precedence of documents in a contract
- Obligations to perform
- Delivery, acceptance, and transfer of title and risk
- Liability in negligence - relationship with contract conditions
- Product liability and defective goods
- Intellectual Property clauses - some special issues
- Letters - Intent; Instruction/Award; Comfort; Awareness
- Conflict of Laws and Choice of Law and jurisdiction Clauses
DAY 3 - Different Contracting Strategies in International Contracts
- Some types of Standard Form/Model Form Conditions
- Drafting Standard Terms
- Potential problems with Standard Form Contracts
- Limiting or excluding liability
- Unequal Bargaining Positions
- Traditional contracts
- Fixed Price/Lump Sum
- Bill of Quantities/Schedule of Rates – re-measured contracts
- Full reimbursable – “cost plus” – why this is sometimes the right answer
- Dealing with volatile markets – economic price adjustment clauses and the use of indices
- Adding incentives to lumps sums
- Non-Traditional contracts
- Build Own Operate and similar structures
- Alliances and Partnering
- No Cure/No Pay – a technique from marine salvage that has wider uses
DAY 4 - Contract Management and the management of change and payment
- The need for good contract management
- Variation of Contract Terms
- Variation of Scope of Work
- Management of Variations and retaining control of the contract
- Payment and money events
- Delay, suspension, and extension of time
- Finance and Payment in International Trade
- Bonds and Guarantees
- Defects Liability - warranty periods
- Managing rolling warranties
- Termination of the Contract and Remedies
- Mitigation of losses and claims
DAY 5 - Resolution of Disputes
- Negotiation, compromise, and settlement
- Litigation
- Arbitration
- Alternative Dispute Resolution - including mediation
- Managing disputes
- Review of program final questions
About Dubai
Dubai, located on the Persian Gulf, is one of the seven United Arab Emirates and one of the most popular tourist destinations in the world. The discovery of oil in the region has made Dubai extremely wealthy, allowing it to build the glittering skyscrapers that it is now famous for. That wealth is strongly in evidence in Dubai and visitors will see luxurious buildings and supercars aplenty. Perfect beaches and endless shopping opportunities are to key to Dubai's attractions. Flights to Dubai open up the city's cultural attractions to tourists, with beautiful mosques, museums and art galleries scattered throughout this ultra-modern metropolis.
Things to do and places to visit in Dubai
Dubai's wealth has made it famous for building ever taller buildings and creating artificial islands off its shores. The city's hotels are luxurious and shoppers will love its extensive shopping malls which showcase all the world's top brands. Dubai's attractions don't end there. Dubai also caters to adventure lovers, who can jump in a 4x4 or on a board to speed over dunes outside the city. Local culture mustn't be forgotten either, and visitors have wonderful mosques to visit and old districts to explore. All that combined means that a flight to Dubai is sure to lead to an unforgettable holiday.
When visiting Dubai, be sure to:
- Go to the observation deck of the Burj Khalifa, the tallest building in the world.
- Admire the intricately beautiful Grand Mosque, which has the tallest minaret in the city.
- Understand the local history and culture with a visit to the Dubai Museum.
- Discover objects from the 6th century at Jumeirah Archaeological Site.
- Go skiing – That's not a joke, the Mall of the Emirates houses a snowdome.
- Go shopping at the Mall of the Emirates or the Dubai Mall.
- Explore the desert surrounding the city – either by 4x4 or atop a camel.
- Eat fantastic seafood at Dubai Marina.
- Cool off at the Wild Wadi Waterpark.
- Marvel at gorgeous Arabic calligraphy at Jumeirah Mosque, the biggest in the city.
- Take a yacht tour around the artificial islands of Palm Jumeirah.
- Haggle for souvenirs in one of the city's souks.
- Wander around the traditional building in Bastakiya District.