Commercial and Business Contracts

• 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

CONTENT

How Contracts are created

• Quantifying Risks
  • The Benefits of Understanding Contracts
  • The Pitfalls of Getting It Wrong
• Controlling the Contract Process
  • Understanding the Deal
  • Controlling the Negotiation
• Contract Formation
  • Offer and Acceptance
  • Battle of the Forms
  • Consideration and Intention
  • Does a Contract have to be written?
• Pre-contractual Issues and Documents
  • Due Diligence, Permits, and Financial Stability
  • When are you committed?

Controlling the Contracting Process

• Auctions, Bids and Tenders
  • Invitations to Tender and Treat
  • Heads of Terms and Letters of Intent
  • Bonds and Guarantees
  • Standby Letters of Credit
• Form of Agreement
  • Contractual Structures
  • Incorporating Standard Terms of Business
• Informal Contracts
  • Letters of Comfort
• Subcontracts and Warranties

Key Contract Clauses

• Pre-contracts and Post Contract “qualification phrases”
  • Subject to Contract
  • Without Prejudice
  • Subject to Client Comment
• Securing Payment
  • Payment Obligations
  • Non Payment Remedies
  • Letters of Credit
  • Guarantees
• Delivery, Ownership and Risk
  • Time and Place of Delivery
  • Late and Failed Delivery
  • Damage in Transit
  • Ownership and Acceptance

When Things Go Wrong

• Contract Liability
  • Managing Liability
  • Limits of Liability
  • Damages
  • Insurance and Indemnities
• Product Liability
  • How a claim is brought in contract?
  • How a claim is brought in negligence?
  • Practical Risks
• Frustration of a Contract
  • Force Majeure
• Notices and Service
• Entire Agreement & Waiver
• Interpretation and Signing
  • Authority to Sign a Contract
  • Power of Attorney
• When do Contracts End?
  • Termination / Discharge
  • Transfer
  • Variation
  • Mistake

Disputes and Compliance

• Choice of Law
• Choice of Dispute Resolution
  • Negotiated Settlement
  • Litigation
  • Arbitration
  • Mediation, Adjudication, and Experts
• Settlement Issues
  • Enforcement of Judgements and Awards
  • Jurisdiction
• The Importance of Business Integrity

FOR WHOM:

Legal Officers and others who perform related functions

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

The training is available in the following locations:

NIGERIA: $5500

RWANDA: $7500

UK: $8500

USA: $8500