COMMERCIAL CONTRACTS MANAGEMENT
Course DescriptionThis program cover skills and competences required for the effective drafting contracts for successful business in general. Drafting an accurate contractual term is very essential element for keeping company’s rights and mit-igating risks against contractor’s performance default during the execution period. Partici-pants will learn what is behind the contractual term, the methodology of having a particular term, how to evaluate a contractual term, and the way to manage a contractor post award.
Course Objectives• Be efficient contract drafter • Be familiar with formal and substantive elements of the contract • Identify which type of contract to use, and when • Identifying Contracts Risks and Risk management • How to get better description of the scope of work • Prevent contract misinterpretation • Be able to achieve balanced terms with contractors • Have an overlook on an international construction contract (eyeing on FIDIC terms) and main clauses of concern. • Understand how to review and evaluate a contract on hand • Contractor performance management and contract appraisal • Manage the negotiation with contractors
Who Should Attend?The following audience will obtain maximum benefit from attending this event: • Engineers, • Financiers, • Project Administrators, • Procurement Staff, • Contractors, • Sub-Contractors, and others associated with tendering/contracting process cycle.
Introduction to drafting contracts
- Contract in laws, Types of Contracts
- Contracts Risks and risk management
- About FIDIC Organization and its published contracts forms
Ways of Commitment
- Tendering Process
- Scope of Work (Conformance & Performance types)
- Invitation to Tender and Tender Document
- Instruction to bidders
- Bonds,Procedures of Opening Sealed Bids
- Technical & Commercial Evaluation
- Fax of Award
- Contract Formal Elements
- Writing, Execution, Exchange of Copies
- Contract Substantive Elements
- Agreement (Offer and Acceptance)
- Contract Object, Cause / Consideration
- Drafting Parameters, Drafting Principles
- How to draft a contractual term?
- Using Punctuation in Drafting
- Contract Structuring
- Standard Clauses of Concern
- Interpretation, Term, Applicable Law
- Jurisdiction, Arbitration, or Amicable Settlement
- Termination, Entire Agreement
- Standard Clauses of Concern
- Severability, No Assignment and No Waiver
- Survival,Counterparts, Independent Contractor
- Warranty,Payment / Auditing
- Exemption Clauses, Force Majeure
- Hardship, Liquidated damages
- Indemnity and Insurance, Suspension
- Other Special Clauses
- Contractor’s Obligation, Company’s Obligations
- Variation Order Clauses,
- Performance Management
- Laws and Regulations to be Observed
- Contract evaluation Process
- How to avoid contract misinterpretation/Violation?
- What If Game?
- What Next Game?
- Areas of Concern
- Check List
- Contract Appraisal (Performance Management)
- Manage Negotiation with Contractors