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May 17, 2021 11:00 am
May 21, 2021 1:00 pm
Online/Virtual   View map
+234, 08090546055, 08090546031

81,000.00 inc. VAT

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Contract Management relates to the administration of contracts between enterprises and their vendors, to derive the utmost benefits from them and reduce economic dangers. Successful Contract Management is crucial to the development of good relationships between both parties; hence this training course will provide participants with necessary understanding of contract law, managing contracts, and contract procurement.

This intensive five-day course is designed to assist contracts professionals cope with the increasing complexity of commercial and business relationships as trade becomes ever more international. All business professionals need to understand what a contract does (and does not) require them and the other party to the contract to do, and the consequences for both parties of any failure.

By the end of this course, participants will be able to;

  • Improve their understanding of the role of contracts within a business
  • Learn how to meet stakeholder requirements
  • Increased benefits, hence enhanced business value
  • Understand how strategies can be developed to improve the commercial outcomes
  • Achieve closer relationships with suppliers
  • Boost Contract Management knowledge and skills
  • Develop more confidence in dealing with contracting issues
  • Apply the latest international thinking in dispute resolution
  • Increase awareness of the use of contracts in everyday business life.

Day One: What are Contracts and how are they Created?

  • The need for contractual relationships
  • What is needed to create a valid contract? Ingredients and formalities
  • Authority and agency
  • The tender process
  • Alternative sourcing
  • Making contracts enforceable – with particular emphasis on the international context

Day Two: The Structure of Contracts

  • Form of Agreement
  • Hierarchy of Terms and Conditions
  • Different contractual structures
  • Traditional and new
  • Risk and Title (ownership) in international trade - When does it transfer?
  • Notices and other formalities
  • Which law and which courts?

Day Three: Collateral Documents

  • Securitising performance obligations
  • Bonds and guarantees
  • Parent company guarantees
  • Letters of intent, comfort or awareness
  • Insurance policies
  • Assessing the need for financial security

Day Four: Change and Variation

  • Changes to Contract documents
  • Assignment/Novation explained and distinguished
  • Variation clauses and changes to the scope of work
  • Claims – what they are and how they arise
  • Delay and disruption
  • Force majeure

Day Five: Resolving Disputes

  • Conflict avoidance and tiered dispute resolution clauses
  • Negotiation
  • Litigation
  • Arbitration
  • Mediation, ENE and new best practices in dispute resolution and management
  • Final questions and review.

This training course is designed for anyone interested in the management of procurement contracts, and those who are keen to learn the skills required to address contract processing correctly. It will also particularly interest;

  • Contract Administrators, Contract Professionals and Project Coordinators
  • Specifiers, Buyers, Purchasing Professionals and Procurement Officers
  • Contract’s managers  
  • Project managers
  • Engineers or contracts operatives

P4PE Institute Certificate of Completion for participants who attend and complete the course.

P4PE Institute
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