This program is designed to assist in that development by providing:

• The contract planning process
• Thorough understanding of contract types
• The critical elements of a contract
• Specific contract clauses to improve performance

By the end of this course delegates will be able to:

• Review contract planning by risk assessment
• Gain in knowledge of contract types
• Learn how to write contract clauses to protect the owner
• Be presented important elements of a contract
• Explore how to developing better contract provisions
• Be able to structuring economic price adjustments
• Review specific contract clauses to improve performance
• Discuss important elements of contract management

Contracts, Purchasing, and Project Personnel, Engineering, Operational, and Maintenance Personnel, Project and Contracts Management Professionals, Tendering, Purchasing, Contract Administration Professionals and Personnel, Engineering, Operational, Finance, Maintenance Professionals, Managers and executives in the procurement, finance, legal, risk and supplier relations department, Business Managers, Commercial staff, Project Engineers, Procurement staff, Legal staff, Contracts analysts & Officers, Contract Leaders & Engineers, Cost & Planning Engineers, Contract Administrators, Contracting Unit Supervisors, Claims Managers and Business Audit Officers, Contract Strategists, Project Managers, General Managers involved in contract negotiation and disputes, Commercial Managers, Buyers, Purchasing Managers,

Tenders Managers, Supply Chain Managers & Executives, Procurement Managers & Personnel, Construction Managers, those involved in the planning, evaluation, preparation and management of tenders, awards and contract performance that cover the acquisition of materials, equipment and services.

This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include:
• Lectures
• Workshop & Work Presentation
• Case Studies and Practical Exercise
• Videos and General Discussions

Day 1: Contract Introduction

• Contract Management

• Defining Contract Management
• Essential Activities in Contract Management

• Planning the Contract

• Who writes the Contract
• The importance of the Contract
• Reviewing the Tender Request
• Identify Basic Planning Assumptions
• Reviewing Historical Data Check List

• Statement of Work

• Types Of Statement Of Work
• SOW Impact On The Contract
• Basic Items That Should Be In A Statement Of Work

Day 2: Conduct Risk Assessment

• Elements of Risk
• Commercial Issues vs. Legal Terms
• Basic Contract Types

• Fixed Price
• Cost plus Fixed Fee
• Time and Material
• Incentive or Award
• Economic Price Adjustment

• Important Elements of the Contract
• Format Of The Contract
• Essential Elements
• Objectives of the Contract

Day 3: Specific Contract Clauses

• Integration
• Buyer’s Rights Before Performance Is Due
• Inspection, Acceptance, Rejection
• Warranties
• Major Issues Related To Warranties

• Performance-Based Service Contracts

• Uniqueness of Service Contracts
• Performance Measures

• Penalty Clauses

• Legality of Penalty
• Liquidated Damages

• Contract Clause for

• Force Majeure/Delays
• Governing Law
• Assignment
• Spare Parts
• Consumables
• Price Protection

• Writing Clauses for
• Delivery/Shipping
• Price/Payment
• Methods of Payment
• Progress Payments
• Large Software Acquisitions

Day 4: How to deal with Contract Changes

• Major Reasons for Changes
• Change Control
• Completion and Expiration
• Termination & Cancellation
• Letters of Intent
• Course of Performance
• Course Of Dealing
• Usage of Trade

• Breach of contract

• What constitutes a Breach?
• Remedies for Breach of Contract

• Bonds and Guarantees

• Types of Bonds & Guarantees

Day 5: Disputes Resolution

• What is a Dispute?
• Methods to Resolve
• Preparing for Contract Disputes
• Contract Clauses for Disputes

• Clauses of Fraud Prevention

• Anti-corruption Procedures
• Price or Fee Adjustment for Illegal or Improper
• Activity

• Contract Review Process
• Developing the Check List

A RECTUS attendance certificate will be awarded to all participants who complete at least 80% of the total course duration.