Introduction
This workshop simplifies contract law for non-lawyers by breaking down complex concepts into practical, understandable terms. Participants will gain foundational knowledge in contract formation, negotiation, risk identification, contract content, and procedures for contract termination and breach.
Course Objectives
By the end of the course, participants will be able to:
- Understand contractual terms and their impact on business operations
- Explore the key elements of commercial contracts
- Analyse commercial risks and opportunities in their own business context
- Propose appropriate risk mitigation strategies
- Review third-party contracts effectively
- Identify areas requiring specialist legal advice or Board-level approval
- Use internal and external legal resources efficiently
Target Audience
- Individuals who interact with contracts in their role
- Managers, project leads, procurement, and administrative staff
- Anyone seeking a foundational understanding of contract law
Course Outline
Day 1 – Understanding Contracts and Commercial Relationships
- Objectives for today and benefits to the business
- Memory game to reinforce learning
- Exercise: Buying a commodity
- Consequences of confusion – pitfalls of poor contract understanding
- Defining commercial relationships
- Exercise: Mapping a typical deal for your business
- Exercise: Identifying legal terms for each area of the relationship
Day 2 – Roles, Responsibilities, and Payment Terms
- Vendor responsibilities and the importance of clear specifications and change control
- Purchaser responsibilities, delivery obligations, and intellectual property considerations
- Timing and milestones for payment
- Defining acceptance criteria and readiness for invoicing
- Taxes and payment-related challenges
- Exercise: Comparing vendor and purchaser acceptance provisions
Day 3 – Contract Risks, Remedies, and Termination
- Warranties and warranty remedies
- Limiting liability and indemnities
- Confidentiality and liquidated damages
- Applicable law and dispute resolution
- Termination clauses and survival provisions
- Exercise: Comparing vendor and purchaser warranty provisions
- Exercise: Navigating through a contract
Day 4 – Recap and Resources
- Review of key contract components
- Recap of course objectives
- Introduction to online training resources for continued learning
