Introduction
International transactions require understanding different values, customs, regulations, and legal systems. Terms and conditions valid locally may not be enforceable internationally. This seminar introduces participants to global sourcing and international contracting, covering tendering, logistics, taxation, currency exchange, technical standards, and supplier management. Participants will gain practical skills to reduce risk, enhance compliance, and improve outcomes in global procurement.
Objectives
By the end of the program, participants will be able to:
- Understand challenges from foreign currency exchange rates.
- Draft and develop international contracts that protect organizational interests.
- Evaluate international labor rates.
- Apply global sourcing processes and select international suppliers effectively.
- Avoid common pitfalls when changing suppliers.
- Understand the benefits and risks of different global sourcing approaches.
Target Audience
- Procurement and Supply Chain Professionals
- Contract Managers and Administrators
- Purchasing Officers involved in international sourcing
- Project Managers dealing with cross-border projects
- Legal and Commercial Teams supporting global contracts
Program Outline
Day 1 – Why Global Sourcing?
- Benefits of outsourcing and global sourcing
- Global sourcing process overview
- Identifying items/services for global sourcing
- Understanding international labor rates
Day 2 – Global Sourcing Approaches
- Sales offices, 3rd party agents, direct sourcing
- Supplier identification and qualification
- International tenders and cultural considerations
Day 3 – Developing the Landed Price
- Pricing, currency, and import duties
- Transportation, INCOTERMS, brokers/forwarders
- Payment terms and methods
Day 4 – International Terms & Conditions
- CISG and sources of standard contract clauses
- Integration clause, liquidated damages, bonds/guarantees
- Change clauses, suspension/termination, acceptance clauses
- Fraud and corruption prevention in contracts
Day 5 – Negotiations, Dispute Resolution, and Completion
- Negotiating international contracts
- Contract administration prior to shipment
- Export/import checklists and warranty considerations
- Dispute resolution clauses and best practices
