Managing Contracts after the Pandemic

Introduction

COVID-19 is becoming as much an economic crisis as a public health emergency, with many contractors suffering from broken supply chains, poor cash flow, or legal impediments to performing their contractual obligations. In this unstable world, which has also been compromised by a dramatic drop in the oil price, our previously dependable strategic suppliers are now struggling to deliver the materials, services or works upon which we relied.

At the same time, some of our needs have changed. New requirements have become much more important - perhaps reducing upstream activities, moth-balling uneconomic production, obtaining new types of PPE, or simply cash preservation. The existing contracts for services, production, or manufacturing that had worked so well before the coronavirus, may now need significant modification.  

So how should contract owners adjust to a volatile commercial life after Covid-19? 

This cutting-edge GLOMACS online training course takes a clear look at the role of contract management in the new, Post-Covid world. Join colleagues from across the world in a highly participative online three-day event, and rethink the contract management task and plan ahead.

Objectives

At the end of this online training course, you will learn to:

• Identify and examine the strategic supply risks that contract owners face as a result of the Coronavirus pandemic
• Guide contract owners in their analysis of their major contracts, to ensure they can to protect their organisations if their contracts go wrong
• Analyse the essential elements to include in a commercial agreement to manage the risks of contractor failure
• Apply the protective measures that will be in existing contracts, such as contract variation, termination for convenience, or Force Majeure
• Address new risks that have appeared, for health & safety, economic or other reasons
• Re-focus their contracts – or even bringing them to an end - to meet new demands and constraints
• Reduce the cost of some contracts compared with what is available in the changed market
• Implement new contracts to meet new business requirements on the best terms we can get

Training Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.