Introduction
Every day significant monies are made and lost by organizations as a result of the contractual terms and conditions governing contracts for the purchase of goods, equipment, and services. Since all business activities are governed by contractual relationships, it is increasingly important for all those dealing with outside organizations to have an understanding of how to obtain the best possible agreement for their organization.
The course will look at how contracts are created, and some of the main clauses that appear in contracts, together with a number of alternative contracting strategies and structures. The course will then consider methods to be used in negotiating contracts, including techniques relating to negotiating on variations and claims. The course will deal with day to day commercial issues arising from business agreements written in the English language but will use techniques which have wide application to many types of contract in many countries.
Course Objectives of Essentials of Contracting
- Provide an understanding of how contracts are formed
- Give an in-depth analysis of issues behind major contract clauses
- Improve appreciation of legal issues in contracts
- Enhance understanding of different contracting strategies and structures
- Develop new skills in negotiation of contracts and disputes
- Increase understanding as to how and why disputes arise
- Learn how to transfer risk through different contract types
- Explain how to use contract provisions to reduce the risk of disputes
Course Process of Essentials of Contracting
Training will involve a high level of interaction and delegate participation. The intention is that the trainer will explain issues, using real examples, but will then involve the delegates in the discussion, using the information provided. There will also be sessions on negotiating, where delegates will work as teams to seek to agree with disputes in realistic scenarios.
Delegates are encouraged to bring real problem examples with them, for discussion on a confidential basis, and to share their experience of particular issues in their company or industry.
Course Benefits of Essentials of Contracting
- Delegates will be introduced to some of the latest international practices in contracting strategy and dispute resolution, and shown how to build such practices into their contract documents
- Professionals should have more confidence in discussing issues with lawyers or with the other parties to contracts
- A better understanding of legal and practical issues will allow the more effective management of external legal and other resources
- Non-lawyers will find it easier to instruct and work with specialist lawyer colleagues, improving the performance of both parties
- Dispute avoidance skills will be enhanced, as will the ability to manage such disputes as do arise in an effective manner
Course Results of Essentials of Contracting
- Expanding the expertise of personnel involved in developing contractual strategies, negotiating contracts and claims
- Improve supplier performance in providing fair and reasonable prices for an on-time high-quality scope
- The Total Cost of Ownership should be reduced
- Contracts should better reflect the commercial and other aims of the business
- Contract negotiations should be more structured and focused on business goals
- Disputes should be reduced, and those that do arise should be settled more quickly, with less cost, delay, and disruption
Core Competencies of Essentials of Contracting
- Negotiating skills and techniques
- Developing contract strategies and structures
- Understanding contract issues
- Analyzing and drafting contract clauses
- Resolution of claims and disputes
- Risk Analysis
- Commercial awareness of pricing and performance issues
Course Outlines of Essentials of Contracting
Day One
How contracts are formed
- The reasons for using contracts
- Basic principles in contract formation
- Examples of formalities for contract formation
- The use of written or oral contracts
- Authority to sign a contract
- Basic contractual structures
- Use of different types of contract for different business models
Day Two
Main contract provisions and associated issues
- Scope of work
- Force majeure
- How to deal in volatile market conditions
- Delivery and acceptance
- Termination and suspension
- Warranty
- Selecting the appropriate law to govern the contract
- Entire agreement
Day Three
Changes and Variations
- Changes to the contract
- Scope variations
- Use of variations clauses
- Evaluating scope changes
- Extensions of time
- Disruption
- Changes in sequence and timing
- Controlling and managing change
Day Four
Contractual Documents and Payment Issues
- Letters of Intent and Award
- Bonds
- Progress Payments
- Parent Company Guarantees
- Use of commercial standard documents
- How contracts end
- Suspension and Termination
- Types of damages
Day Five
Dispute Resolution
- Avoiding disputes
- Recognizing disputes when they arise
- Contract clause to encourage negotiation
- Third-party dispute resolution
- Courts
- Arbitration
- Alternative methods – including mediation
- Post review and analysis
About Madrid
Madrid is a city that combines its enduring history with its cosmopolitan atmosphere to create a destination that favored amongst tourists from around the world. This is a city that is very much bursting at the seams with life and its vibrant atmosphere, cultural attractions and connection with history ensure travelers have everything they could possibly want from a European city break. At the end of a flight to Madrid, there are sites to see, picturesque streets to roam and, of course, excellent shopping opportunities to explore. Visitors can immerse themselves in Madrid's fantastic local culture, its peerless art scene and world acclaimed fine dining. In fact, there is very little that Madrid doesn't have to offer.
Things to do and places to visit in Madrid
The only problem travelers will encounter during their visit to Madrid is knowing what to do first. Sampling the mouth-watering tapas, strolling through one of the many excellent museums or even simply soaking up the atmosphere are all excellent options. Spend a sunny day wandering through the splendid squares or marvel at the intricate architecture of the churches.With so many options, flights to Madrid are great for people of any age or inclination.
When visiting Madrid, be sure to:
- See the superb collection of art is the Museo del Prado.
- Stroll down the Gran Via.
- Enjoy the atmosphere of the Plaza Mayor.
- Wander through the stunning gardens of the Parque del Buen Retiro.
- See the beautiful mansion of the Museo Lazaro Galdiano.
- Find quirky fashions in the Fuencarral market.
- Try some of the many different tapas dishes.
- Visit the statues of Don Quixote and Sancho Panza in the Plaza de Espana.
- See the breathtaking Basilica de San Francisco El Grande.
- Wander the Casa de Campo park, which is five times the size of Central Park.
- Shop in the luxury boutiques of the Golden Mile.
- Look for bargains at the El Rasto flea market.
- See Picasso's Guernica in the Reina Sofia museum.
- Snack on churros with chocolate.