This 1 day course is designed to build staff confidence to contribute to the development and management of commercial relationships through their improved understanding of the fundamental concepts of contract law and the role and application of the written legal contract.
The course examines key practical issues around the creation of legally binding contracts together with the principles behind, the meaning, and the commercial implications of many frequently used legal phrases and contract terms.
Case Law and examples are used throughout the course to illustrate key areas of discussion and delegates are actively encouraged to consider the implications of their learning to their own specific contracts.
On completion of this workshop delegates will be better able to:
- Fulfil their role in developing and managing contractual relationships on behalf of their organisation
- Understand the terminology, technical and procedural issues pertaining to a commercial venture allowing them to be more commercially aware
- Understand the legal principles of contract formation
- Consider the nature of the commercial relationship when developing and managing the legal contract
- Contribute to the drafting of legal contracts through knowledge of a range of specific contractual terms
- Interpret and understand legal contracts to ensure formally binding arrangements are made
- Address key issues and areas of commercial liability and risk, utilising a range of contractual mechanisms
- Apply key contract terms throughout the contract lifecycle
- Confidently negotiate both a sound contract and issues as they arise during the life of the contract
- Introduction to contract law and the underpinning principles
- Key elements in the creation of legally binding contracts
- Understanding legal aspects of contract formation (eg. ‘Subject to Contract’, Letters of Intent and Implied Contract commitments)
- “Boilerplate” contract clauses and “Standard” legal terms
- Management of contractual issues and risk through having effective legal contracts
- The legal meaning of conditions and warranties and the remedies that apply to their breach
- Transfer of title and risk
- Contract Termination for Breach and Termination for Convenience
- Performance/ non-performance of contracts covering breach of contract, liquidated damages, force majeure, frustration and anticipatory breach
- Contract and post contract liabilities including direct and consequential loss
- Forms of Dispute Resolution
Who should attend
- Procurement and Contracts staff engaged in the creation of commercial contracts
- Staff responsible for managing the performance of supplier contracts
- Managers responsible for supporting contract management staff (operations and procurement)
- Supplier personnel responsible for managing contract delivery with their customers
- Business Development and Project staff responsible for tendering, submitting bids or working directly with customers/suppliers.
This course can be readily customised to enable client specific contract management policy, guidance and challenges to be incorporated into workshop materials and delivery.
As an in-house course this training offers a great opportunity for organisations to develop, share and “standardise” good contract management practice.