Commercial and Business Contracts

Introduction

This GLOMACS Commercial and Business Contracts training course will provide participants a comprehensive understanding of procedures and practice related to the risks inherent in the formation and management of contracts. Through analysis of real life examples, this GLOMACS Contract Management training course demonstrates how to manage contract risk effectively and to ensure contract negotiations and performance occurs quickly and efficiently. Contracts are valuable and useful tools for companies to maximise value for businesses and minimise risk of loss or things going wrong. Businesses cannot continue to focus on pricing and key commercial terms alone.

Contracts are vitally important for any business. Understanding and managing contract risk is critical for companies and senior employees. The business and competitive advantages of managing contracts effectively produces significant benefits and a failure to fully understand risk related items in a contract can result in lost opportunities and costly disputes.

The highlights of this GLOMACS training course are:

• Creation of contracts including legal effectiveness and structure
• Key contract clauses focusing on payment and non-payment remedies
• Securing performance of a party’s obligations in the contract
• Liability for breach of contract
• Dispute resolution and important considerations

Objectives

• Analysis of the risks inherent in the formation and management of contracts
• Explain key contract provisions and provide instruction on how to manage contract risk effectively
• Interpret essential contract clauses and understand the specific terms and conditions
• Develop your ability to negotiate an effective contract to protect your corporation’s interests
• Discuss where things can go wrong, and learn how to avoid problems, or mitigate their effects through well drafted contracts and good management
• Recognize how to avoid disputes but be prepared to deal with them if they arise

Training Methodology

This GLOMACS Commercial and Business Contracts training course will involve the attendees in as much participation as possible with discussion and exercises on particular topics. Presentations will be kept short and topical to maximise interest and participation. Topics will be designed as far as possible to be clearly relevant to the business issues faced by or likely to be faced by the delegates.

Organisational Impact

• Ensuring that the organisation effectively manages the creation of contracts
• Improve contracting processes within the organisation
• Enhance transactional and litigation risk control within the organisation
• Delivering greater value to the organisation by the use of more effective contract performance provisions
• Minimising costly disputes caused by unclear or inappropriate contract clauses and maximising the benefits available
• Increased awareness of methods of dealing with disputes to ensure that commercial relationships are maintained and enhanced

Personal Impact

• Increased understanding of contracting process
• Enabling more effective control of the contracting process
• Understanding the importance of key contractual clauses
• Determining appropriate allocation of risk in contracts
• Developing enhanced contract management and administration skills
• Improving the ability to avoid costly contractual disputes