Commercial & Business Contracts: A Practical Guide

Course Overview

This training programme will assist the delegates with the concepts of law and practices relevant to the risks intrinsic in the management and formation of the contracts. With the help of key contract provisions analysis and the examples of real life, the training programme explains the methods of managing the contract risk in an effective manner and to make sure that the contract performance and negotiations occurs efficiently and quickly.

Who Should Attend?

• Personnel who can attend this course are:
• Professionals such as financial and legal staff
• Sales and marketing staff
• Management professionals
• Employees in governmental or corporate companies who are responsible for negotiating, approving, or negotiating contracts

Program Outline

Contracts creation

• Risks quantification
• Understanding contracts: The benefits
• Getting it wrong: The pitfalls
• The contract process: The Controlling
• The deal: Acknowledgement
• The negotiation: Controlling
• Formation of contract
• Acceptance and Offer
• Concept for the Battle of the forms
• Intention and consideration
• Implication of a contract: Does it have to be written?
• Documents and the pre contractual issues
• Financial stability, permits, and the due diligence
• Time of committment

The Contracting Process: Controlling

• Tenders, bids, and auctions
• Treat and the invitations to tender
• Letters of Intent and the heads of terms
• Guarantees and the bonds
• Credit: The standby letters
• Agreement: The Form
• Structures: Contractual
• Standard terms of business: Incorporation
• Contracts: Informal
• Concept for the Letters of Comfort
• Warranties and the subcontracts

Clauses for the key contract

• Post contract “qualification phrases” and the pre contracts
• Concept of Subject to contract
• Concept of “Without prejudice”
• Concern to client comment
• Payment: Securing
• Obligations of payment
• Remedies for non-payment
• Credit: Letters
• Concept of Guarantees
• Risk, ownership, and delivery
• Place of delivery, and time
• Failed delivery and late
• Concept of Damage in transit
• Acceptance and ownership
• Risk and the transfer of title
• Title: retention
• Concept for the Time of the essence
• Damages: Liquidated

Description: When Things Go Wrong

• Liability of a contract
• Liability management
• Liability limits
• Concept of Damages
• Indemnities and insurance
• Liability of a product
• The ways of How a claim is brought in the contract
• The ways of How a claim is brought in negligence
• Risks: Practical
• Contract frustration
• Concept of Force majeure
• Service and Notice
• Waiver & Entire agreement
• Signing and Interpretation
• Sign a contract: Authority
• Concept of Power of Attorney
• End of contracts
• Discharge or Termination
• Concept of Transfer
• Concept of Variation
• Concept of Mistake

Compliance and the disputes

• Law: Choice
• Dispute resolution: choice
• Settlement of negotiation
• Settlement of Litigation
• Settlement of Arbitration
• Experts, adjudication, and mediation
• Issues of settlement
• Awards and the enforcement of judgements
• The concept of Jurisdiction
• Business Integrity: The importance
• Concept of Bribery
• Concept of Corruption
• Concept of Money laundering
• Definition and description: Competition law

Program Objectives

• Acknowledge the ways to avoid the issues and at the same time be ready to deal with them if they occur.
• To recognize the foremost mandatory contract clauses and acknowledge the specific conditions and terms.
• In-depth key contract provisions analysis, supply the guidelines on the ways to manage the contract risk in an effective manner
• To provide you the instructions and guidelines for the understanding of the law and practices intrinsic in the management and the formation of contracts.
• To protect your organization’s interests this training provides with the capability to arrange an effective contract
• Learn the ways to avoid issues, recognize and analyze where one can go wrong or minimize the effects of the issues faced through proper management and contracts