Legal Skills: Contract Law: Negotiating, Drafting & Managing Commercial Contracts

Course Overview

In the modern commercial world, managers of all disciplines find themselves involved in the negotiation, drafting and management of contracts. Although the fine detail may be handled by corporate legal, purchasing or contracting professionals, it has never been more important for the general manager to develop an essential knowledge of the process and practicalities.

This course has been specifically designed to provide you with the commercial skills required to help you through each step of negotiating, drafting and managing commercial contracts to ensure your contracts deliver value to your business. You will gain an in-depth insight into the commercial and legal issues surrounding contracts and return armed with the knowledge to ensure you can protect your company from costly and ineffective contractural arrangements.

Audience

This course will be of particular benefit to the following people:

• Managers responsible for purchasing products or services for their department or company
• Executives involved in supplying products and services
• Project managers involved in the project contracting process or the procurement of supplies and/ or services
• Recently appointed commercial executives and managers
• Newly appointed purchasing staff

Skills Gained

THIS COURSE WILL ENABLE YOU TO:

• Proactively manage contracts to support your corporate objectives
• Effectively define roles and responsibilities in the contract process
• Improve your negotiating skills
• Construct a mutually beneficial contract relationship
• Establish and secure your contractual objectives
• Integrate the core elements into a effective and cohesive contract
• Ensure that inherent risks are effectively identified and managed
• Structure and manage teams in large contracts to maximise performance
• Anticipate and avoid potential pitfalls through applying an impact analysis approach

Course Outline

Understanding the Role and Value of Contracts of the business:

• the expectations of shareholders, customers, employees, suppliers
• measuring the quality of a contract
• successful contract management

Understanding Both Buyers and Sellers Positions in the Tendering Process

• pre-bid activities
• the bid/no-bid decision
• understanding bid selection criteria
• producing winning tenders
• selecting and evaluating bids from suppliers
• Negotiating the Deal
• preparation and planning
• seeking win/win solutions
• advantages and disadvantages of partnering
• the risk/price trade-off
• recording the deal

Legal Skills: Contract Law: Negotiating, Drafting & Managing Commercial Contracts / CM4467