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

• Discuss elements of good contract process
• Learn methods of tender evaluation
• Review contract strategies
• See examples of important commercial contract clauses
• Be presented the essential elements of a contract
• Be given examples of contract checklist
• Learn how to develop high performance purchasing organizations
• Develop strategic purchasing plans
• Be taught how to develop spend profiles and perform analysis to guide strategies
• Explore many ways of reporting key performance indicators (KPI)
• Be presented with the most important competencies for contract and purchasing personnel

What are contracts and how are they created?

• The need for contractual relationships
• What is needed to create a valid contract?
• Offer and acceptance
• Intention to create a legal relationship
• Written or oral
• Legal formalities in different countries
• Signing and sealing
• Witnesses, Authority to sign
• How to prove authority
• The tender process
• Involvement of agents
• What happens if there is no contract, but work is carried out anyway?
• Making contracts enforceable with particular emphasis on the international context

Structure of Contracts

• Form of Agreement
• General Terms and Conditions
• Special Terms and Conditions
• Schedules or Appendices
• Title (ownership) and Risk of Damage
• When does it transfer?
• Use of ICC Incoterms
• Notices and other formalities
• Which law and which courts?
• Different contractual structures
• Traditional
• New Structures Used in the Middle East
• New Structures not widely used in the Middles East

Collateral Documents

• Bonds and guarantees
• Tender Bonds
• Advance Payment Bonds
• Performance Bonds
• Warranty Bonds
• Parent Company Guarantees
• Retention/Withholding
• Retention Bonds
• Letters of intent
• Letters of award
• Letters of comfort or awareness
• Insurance Policies
• Assessing the need for financial security in the current economic climate

Changes

• Changes to the Contract documents
• Changes to the scope
• Delay and disruption

Resolving Disputes

• Negotiation
• Staged dispute resolution clauses
• Litigation
• Arbitration
• New best practices in dispute resolution

Contracts, Purchasing, and Project personnel, Engineering, Operational and Maintenance personnel, anyone who is involved in the planning, evaluation, preparation and management of tenders, awards, contracts and purchases that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in contracts and purchasing activities.