Project Description
Contracts are the basic structure of all business relationships, whether they are for the construction of a major new facility, or the supply of stationery, the terms and the management of the contract itself are critical to the success of all companies. As such, contracts touch every aspect of business life, and it is important that all staff (whether directly involved in contract management or not) understand how they operate, particularly in an international context.
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Why attend
Contract management is a systematic procedure in the purchasing and selling of services and products that involves specific stages and associated activities, including: Planning and Procurement, Award and Implementation. This course will establish the process and provide guidance to developing truly effective tenders that make for better vendor evaluation and selection and facilitate contract and risk management. Participants will gain information and knowledge on how to apply concepts of tendering and technical tender evaluation in a manner that follows international best practice and be aware of the kind of tools suitable for the task.
The course will help companies award the right contracts to the best contractors.
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Course Objectives
By the end of the course, participants will be able to:
• Apply and gain an in-depth information on understanding contract preparation, negotiation and administration techniques
• Understand and apply contract research and validation techniques
• Interpret complex contractual terms
• Discover some of the tactics that are used during contract negotiations
• Exhibit understanding of the role and significance of specific core clauses in the contract and how they can provide robust positions when entering contractual relationships with suppliers
• Appreciate the legislative requirements and legal aspects of commercial contract preparation and formalization
• Identify and avoid causes for contractual rights and change order
• Negotiate contractual claims and change orders in order to evade arguments and legal issues
• Classify the most common contract risks in the oil and gas industry and how to best address them
• Carryout contracting procedures and techniques and develop contract pricing agreements
• Recognize uncertainty, risk and performance measurements
• Identify the important contractual terms and express and implied terms
• List the elements of contract negotiation and apply basic techniques for negotiation and preparatory work for negotiation
• Manage contractor’s performance and implement anti-corruption measures in petroleum industry contracts
Who should attend
This course provides an overview of all significant features and consideration of mastering contract preparation, negotiation and management techniques for commercial employees, contracts engineers and procurement officers with a precise look to understand the strategic role of negotiation skills in order for them to maintain high standards in contract, procurement, negotiations and administration and learn how to handle disputes and claims
Course Outline
- Introduction to Contract ManagementContract Management Definition – Description and Uses of Contracts – Buyer and Seller Perspectives
Contracting Methods & Techniques
Contract Preparation & Formalization Techniques
Why We Need Contracts – Basic Principles in Contract Formation and Contract Effectiveness – Form of Agreement – Basic Contractual Structures – Proper Law of the Contract
Developing Contract Pricing Agreements
Uncertainty, Risk & Performance
Measurements
External Events – Force Majeure – Strikes and Other Labour Disputes – Transferring Risk Through Contract Types – Indemnities – Insurance
Important Contractual Terms
Rights & Obligations under the Contract – Links between Risk & Reward for the Contractor – Delays and Suspensions –
Delivery and Acceptance – Remedies for Failure to Perform – Frustration of a Contract – Rights to Terminate
Interpret Complex Contractual Terms
Elements of Contract Negotiation (Goals, Process, Principles of Exchange, Assessing the Other Parties, etc.)
Negotiation (Basic Techniques, Preparatory Work and Conducting the negotiation)
Negotiation – Arbitration – Litigation – ADR
Legislative Requirements & Legal Aspects of Commercial Contract Preparation & Formalization
Managing Contractor’s Performance
Contractual Claims & Change Orders
Contract Administration & Close Out
Contract Risks in the Oil & Gas Industry & How to Best Address Them
Anti-Corruption Measures
The workshop
This interactive training course includes the following training methodologies as presented on the next column based on percentage of the total tuition hours:
Lectures
Workshops & Work presentation
Case Studies & Practical Exercises
Videos, Sofware & General Discussion
The course instructor may modify the above training methodology before or during the course for technical reasons with no prior notice to participants.
Falcon Consulting Professionals is established in Greece for the last 15 years in the areas of technical consulting and professional training for the local industries. Falcon is expanding in GCC, aiming to provide the best consulting and training solutions to the industries of the region. Falcon’s instructors are accredited trainers and highly experienced in their fields, as well as adult training. We aspire to build our business relationships on mutual trust. The achievement of results with an emphasis on innovation and sustainability, quality, cost analysis and time scheduling are non-negotiable from the conceptual phase of the training.
