Classroom Sessions:
Online Sessions:
21 - 25 Apr 2025 | Online | $3,950 | |
06 - 10 Oct 2025 | Online | $3,950 |
INTRODUCTION
Contracts are the backbone of all commercial relationships, but it is one that few organizations do efficiently or effectively. In fact, it has been estimated that inefficient contracting leads to losses in business overall income. However, recent technological developments like Artificial Intelligence (AI) are now helping organizations overcome many of the challenges to contracting. For example, AI can automate the entire contract review process to achieve pitch-perfect optimisation and remove the tedious and repetitive work that used to consume time of too many staff members.
The 21st century world is a world of data. To process all of it, the world is more reliant on AI than ever. A strong understanding of the technologies behind AI is an essential requirement for professionals involved in contract management and negotiations to stay up to date with the latest trends relevant to this area and to reap the full benefits of AI by providing the necessary supervision for implementing AI in their respective domain of work.
In this highly interactive course, the implementation of AI in contract drafting, negotiation, and management will be examined from various view points to ensure building a comprehensive understating of AI application in contracts relevant to your organization. We will consider contract creation and reviewing drafting where AI is used to create customised contracts to meet the parties’ specific needs by analysing data from past contracts and identifying relevant terms and conditions etc. The training course will examine how AI analyses contracts to identify errors of significant terms and conditions, such as payment terms, liabilities, indemnities, warranties, termination clauses etc.
This GLOMACS Artificial Intelligence (AI) in Contract Management training course will highlight:
- Comprehensive understanding of what AI technology is in the context of contract management- what it can and what it cannot do
- AI application for some key contractual arrangements
- Contractual Risk Management Issues and AI
- The role of AI in contractual Insurance, Indemnities, Liabilities, Force Majeure
- AI and Negotiation tools and tactics
- The role of AI in dispute resolution in cross border and international contracts
Objectives
At the end of this Artificial Intelligence (AI) in Contract Management training course, you will learn to:
- Understanding in depth some key contractual arrangements in selected industries and the structure of contracting
- Master and comprehensively understand the role of AI in contracts
- Identifying the application of AI technology in mitigating risk factors and managing those risks through effective contractual clauses
- Learn how AI technology can support drafting appropriate contractual clauses in contracts
- Evaluate the role of AI in dispute resolution process and how it will apply it in different scenarios
- A contextual understanding of AI technology, and evolution, helping you to make relevant predictions for its future trajectory in contracts
Training Methodology
In this AI in Contract Management training course, participants will gain greater understanding of the subject matter through presentations by an experienced international practitioner designed to both inform and broaden the perspectives of the participants. Interactive discussions on problems and possible solutions will be encouraged.
Organisational Impact
Your organization will benefit by:
- Personnel in the organization will be conversant with the role of AI technology in contracts
- Having a full understanding of the AI in the context of fundamental legal principles relevant to your business
- Being able to anticipate and deal with issues and ramifications pertinent to the role of AI in commercial contracts
- Strategizing on risk management techniques that can be used in commercial contracts
- Senior management know the application of AI technology to enable them to negotiate more favorable terms and conditions relevant to their commercial entity
Personal Impact
The participant shall benefit through attending this training course by:
- Gain the ability to formulate a comprehensive thought out approach to the application of AI in commercial contracts
- Obtain in depth understanding of what AI can and cannot do to negotiate a more preferred commercial contracts clauses
- Manage and production and commercial risks through better AI understanding and the relative role in drafting contract clauses
- Demonstrate a professional understanding of apportioning risk and liability between the parties to commercial contracts
- Work out a modern contracting strategy to meet company’s goals
- Learn how AI can support customizing bespoke contracts suited to needs of their company
WHO SHOULD ATTEND?
This Artificial Intelligence (AI) in Contract Management training course will benefit all levels of personnel involved in any aspect of project procurement and implementation in commercial sectors. It will enable a broad range of disciplines to appreciate and understand the complexities of various industries, and how best to manage risk.
This GLOMACS Artificial Intelligence (AI) in Contract Management training course is appropriate to a wide range of professionals but will greatly benefit:
- Senior Managers
- Legal Managers, Legal Counsel
- Commercial and Business Managers
- Contracts Administrators, and Managers
- Commercial, Financial and Insurance Professionals
- Project and General Management
Day 1
Introduction to Artificial Intelligence (AI) in Commercial Contracts
- Overview of Business Structures and Contracting
- Emergence of AI and its application in society and business
- What can AI do and what it can’s do?
- The benefits and risks of using AI tools for contract negotiation
- Contract Formation: terms and conditions
Day 2
AI in Commercial Contracts Drafting: Enhancing Speed and Compliance
- Can AI draft a commercial contract?
- Remedies of Breach of Contracts
- Damages: Compensatory, Consequential and Incidental
- Damages, Liquidated Damages
- Termination of Contracts: AI role?
- The traditional commercial contract drafting process
- Limitations and challenges faced in traditional drafting methods
- Benefits of AI in the contract drafting process
- Best practices for implementing AI for contract drafting
Day 3
AI in Commercial Contract Negotiations: How to do so profitably?
- Negotiating Commercial Contracts
- Joint Venture (JV)
- Example- Production Sharing Contracts (PSC)
- Fundamental Legal Principles
- Commercial Realities
- Cultural and Language Issues
- The application of AI in negotiating commercial contracts
- Liability clauses
- Contractual indemnity
- Insurance provisions
Day 4
AI and Contract Management
- Risk Management and AI
- The role of AI in contract management
- Sending payment reminders, contract renewals reminders
- Tracking contracts performance
- Identifying any potential breaches of contract
- Managing end-to-end contracting workflow
- How data collection becomes another metric to be analysed and used in optimising contract negotiations
- Indemnity and Exclusion Clauses: Why the need and the role of AI?
- Performance & Penalties
- Force Majuere, Change in Law and other Disputes
Day 5
AI role in Dispute Resolution under Cross Border / International Agreements
- The emergence of AI and its application in dispute avoidance
- AI and developing negotiation strategies in dispute avoidance under commercial contracts
- Arbitration & Mediation – Important Differences
- Mediation and Conciliation, Adjudication, Dispute Boards - save time and costs
- Enforcement of International Arbitration Awards under the New York Convention
- Contemporary Developments in Case Law and Legislation
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Endorsed Education Provider
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
In Association With
Oxford Management Centre
A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.
The Energy Training Centre
Our collaboration with Energy Training Centre aims to provide the best training services and benefits for our valued clients
GLOMACS Training & Consultancy
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