Understanding and managing contract risk is critically important for companies and senior employees. The business and competitive advantages of managing contracts effectively produces significant benefits. A failure to fully understand risk related items in a contract can result in lost opportunities and costly disputes. This is a practical guide to contracts for business.
By focusing on pricing and key commercial terms alone companies frequently fail to maximise the value of contracts. This course will provide attendees with an understanding of procedures and practice related to the risks inherent in the formation and management of contracts. Through analysis of key contract provisions and real life examples the seminar demonstrates how to manage contract risk effectively and to ensure contract negotiations and performance occurs quickly and efficiently.
The highlights of this 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
- 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