Contract Drafting and Management

 Description

Program Objective:

No contract will be successful unless – it is under-pinned by sound contract management and administration. More often than not it is the support tea m involved in the background of a contract that ensures it is a success.
This course will help you to understand how the effective drafting & management of a contract can deliver the goals it set out to achieve.

Program Outcome

At the end of the course delegates will:
• Able to draft the contract from
( a) Scratch and (b) modify the Contract template
Understand the contribution that contract administration can deliver
• Be better able to minimize contractual risk
• Manage change during the contract from a risk and legal perspective
• shall be able in making Negotiation strategy
• Understand and draft contractual terms and conditions
• Have identified all the benefits of alternative dispute resolution methods

Topics Covered

This course will cover the following key topics:

1) Understanding the legal environment

• Basic legal principles
• Risks for a valid contract
• Conditions and warranties
• Making the contract
• Offer and acceptance
• Statute law affecting contracts

2) Drafting the contract

• Drafting starts with effective thinking
• The key objective
• Communication and the barriers to overcome
• The craf t of contract drafting
• Closing loopholes
• Defined terms; precise language (Contract drafting Tips)
• The specific and the general
• Termination clauses
• Traps for the unwary

3) Some contract scenarios

• The enquiry and the bid
• Time and materials
• Fixed price
• Pricing or associated costs

4) Contract terms and conditions

• How to deal with the ‘small print’
• Consortia, joint ventures and collaborations
• Choices of law and jurisdiction
• Force majeure and its implications
• Time is of the essence

5) Effective administration techniques

• What is the purpose of the contracts function?
• The extent of its involvement; what is needed?
• Terms of reference
• Early warning systems
• Some maxims of contract administration

6) How to obtain legal remedies

• The advantages and disadvantages of litigation and ADR
• Choosing the appropriate method of redress
• Obtaining redress while the contract is operating

Methodology & Certificates-

• Demonstration of actual documents, Lectures & Interaction
• A Certificate of participation will be presented to the participants.