Contracts, dating back thousands of years, are one of the oldest features of trading relationships. Overtime, contracts have undergone a radical transformation from a document to a tool for business optimization. Modern contracts are viewed and defined in a variety of forms due to the wide-ranging scope of a contractual relationship. The scope of contracts can vary from the simplest of transactions to the most complex transactions possible involving considerable funds and many parties. In its broadest sense, contracts are agreements that define relationship between two or more parties.
By attending Contract Negotiation & Drafting workshop, delegates will learn:
- What are contracts, Contract Lifecycle Management etc
- Legal issues involved in contract through past court cases
- When to handle contract on one's own and when to outsource
- Why disputes occur in the course of contracts and how to resolve them
- How to develop collaborative relationship with contractors
- What are the major KPIs in contract management
- Importance of correspondence in contracts
- How to develop Contract Management Plan (CMP)
- Importance of Negotiations in the contracts
Howsoever elusive it may appear; quintessence of this Contract Negotiation & Drafting training course will lie in creation of the flawless contracts. By incorporating tools and techniques of contract management mentioned in this training, you are expected to:
- Improve the quality of the contract document
- Because of the improvement in the quality of the contract, disputes with the contractors are expected to reduce
- Because of the reduction in number of disputes, time overrun in completion of the project is expected to reduce which in turn improve the profitability of the organisation.
- Because of the reduction in disputes, time spent in negotiations will reduce, which in turn improve the productivity of the contract management personnel.
This is a managerial level programme. Nevertheless, managers or non-managers, you are expected to have good command over English, good understanding of the procurement or commercial practices. They should have good communication skills so that they can participate in the role plays.