By the end of the program, participants will be able to:

• Develop an understanding of the role of contracts in the business world
• Explain how contracts are structured
• Examine current thinking on contracting structures in an international context
• Improve understanding of the main terms and conditions of contracts
• Understand the importance of change management and control
• Develop appreciation of the collateral documents that work alongside contracts; including bonds, guarantees, letters of intent etc.
• Review the latest international thinking in alternative methods of dispute resolution

What Contracts are & How They are Created

• The need for contractual relationships
• What is needed to create a valid contract?
• The tender process
• Involvement of agents
• What happens if there is no contract, but work is carried out anyway?
• Making contracts enforceable

Structure of Contracts

• Form of Agreement
• General Terms and Conditions
• Special Terms and Conditions
• Schedules or Appendices
• Title (ownership) and risk of damage
• Notices and other formalities
• Which law and which courts?
• Different contractual structures

Collateral Documents

• Bonds and guarantees
• Retention/Withholding
• 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, Delays & Disruption

• Changes to the Contract documents
• Need for consent
• Assignment/Novation explained and distinguished
• Waiver
• Changes to the scope
• Variation clauses
• Notice provisions
• Valuation of variations and changes
• Claims – what they are, and how they arise
• Delay and disruption
• Delay caused by client
• Delay caused by contractor/supplier
• Force majeure

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, Project and Contracts Management Professionals, Tendering, Purchasing, Contract Administration Professionals and Personnel, Engineering, Operational, Finance, Maintenance Professionals, Managers and executives in the procurement, finance, legal, risk and supplier relations department, Business Managers, Commercial staff, Project Engineers, Procurement staff, Legal staff, Contracts analysts & Officers, Contract Leaders & Engineers, Cost & Planning Engineers, Contract Administrators, Contracting Unit Supervisors, Contract Strategists, Project Managers, General Managers involved in contract negotiation and disputes, Commercial Managers, Buyers, Purchasing Managers, Tenders Managers, Supply Chain Managers & Executives, Procurement Managers & Personnel, Construction Managers.