Negotiating, Drafting & Understanding Contracts

Course Introduction

This Negotiating, Drafting & Understanding Contracts training course provides a comprehensive overview of the three essential stages of contracting: negotiating the deal, documenting it effectively, and managing contract performance. Participants will gain insights into best practices across various industries, which can add significant value to their own contract management processes.

Additionally, the course offers the opportunity to consider contract matters from the perspective of the other party, enhancing your overall approach and negotiation skills.

Training Objectives

By attending this training course, you should achieve these goals:

• Understand the Need to Negotiate the “Deal” before Structuring the Contract Documentation
• Utilise the Tools & Techniques to Assist in Such Negotiations & Enhance the Efficient Management of Contract
• Assess the Drafting and Modification of Specific Contract Clauses, Using Real Examples
• Introduce Some of the Differences in Approach in Different Jurisdictions
• Examine Ways to Avoid Disputes, or to Manage Them Successfully

Who should Attend?

This training course is suitable to a wide range of professionals, but will greatly benefit:

• Contract Administrators, Contract Professionals and Project Coordinators
• Supply Officers, Buyers, Purchasing & Procurement Professionals
• Project, Construction, Cost and Quantity Professionals
• Claims Personnel, including Legal Advisers
• Contracts Managers
• Those New to the Function, Preparing For a Major Project or Experienced Professionals Looking For a Refresher

Day One: Negotiating the Agreement you Want

• The context of commercial arrangements
• Negotiating Principles for contracts
• Setting contractual objectives
• The most important negotiable elements
• Achieving an appropriate balance of commercial risks
• Relationship between negotiation and contract drafting

Day Two: Drafting the Contract You’ve Negotiated

• What constitutes a contract? – the essential elements
• Form, Ingredients and Basic Structure
• What are the Contract documents? constructing the jigsaw puzzle
• Working with standard forms and model agreements
• Using contract qualification to amend the other side’s draft
• Temporary contractual arrangements: Letters of Intent and other interim agreements

Day Three: Understanding Contractual Rights and Obligations

• Operative provisions and performance obligations
• Title, Risk and Payment provisions
• Liabilities, indemnities and the duty to insure
• Limitation and exclusion of liability, force majeure and waiver
• Remedies for default, damages and penalties

Day Four: Managing the Contract You’ve Signed

• Finalising the contract and getting started
• Kick-off meetings: Setting and managing expectations
• Creating a contractual performance environment
• Handling Contract Variations: changing the scope of work
• Dealing with under-performance - defaults, delay and disruption
• Payment issues – including in international trade

Day Five: Resolving Contractual Claims and Disputes

• Managing contractor claims
• Recognising potential problems and dealing with issues as they arise
• Governing Law of the contract and dispute resolution
• Using contract-based resolution – referring disputes to an Adjudicator
• External dispute resolution – Litigation and Arbitration
• Modern alternatives – Mediation, Expert Determination and other methods