Contracts Legal & Finance

ME165

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The law and regulations governing business and contract law are increasingly complex and now affect all industries and every type of commercial agreement, from entering into a contract to validity of purchase conditions.If you are involved in commercial contracting or dealing with external parties at any level, you need to grasp the practical legal implications of these relationships to ensure you do not expose your organisation to unnecessary risk. You will also need to protect your company from litigation and anticipate legal pitfalls.

This programme combines up-to-date commercial law with practical methods of translating this law into documentation. It identifies and analyses the different types of contract and how the various statutes affect them, ensuring that you fully understand the impact of current legislation and case law, and looks at how Brexit may affect your contracts. By the end of the course you will be able to recognise and deal confidently with the risks and benefits of commercial contracts.

Understand principles and practices of contract law
What is a contract and how is it different from an agreement?
Understand when a contract is formed.
Reduce the chances of contract pitfalls
Improve awareness of their own actions
Negotiate from a position of strength

Contract and commercial managers and engineers
Sales and marketing managers
Project and procurement managers

Effective Contract Negotiation

Preparing for negotiation
Developing winning strategies
Objectives and aligning to strategy
Understanding the rules ofnegotiation and culture
Key negotiation behaviours and communication skills
Mapping routes to agreement

Formation of a Binding Contract

What is a contract?
Making a binding andenforceable contract
Six components
Offer
Acceptance
Deeds

Tools, techniques and terminology when creating a formal contract

Pre-contract pitfalls
Informal contracts
Standard terms
Letters of intent
Memorandum of understanding
Enforceable contracts

Getting to grips with how the law changes what you thought you had agreed to

What are implied terms andwhere do you use them?
Working within governmentrestrictions
What is good faith and makingit benefit your organisation
Misrepresentation
International convention

Managing the Contract

Payment mechanisms
Contract
Service levels
Audit rights
Dealing with change
Delegation
Contract programme and governance
Change management

Including constructive performance obligations

Specific performance
Condition precedents
Liquidated and ascertaineddamages
Delivery
Force majeure
The doctrine of frustration

Bribery and Corruption

The Bribery Act
General and corporate offences
Bribing foreign officials
Enforcement and penalties
Key issues for companies

When things go wrong and defences to breach of contract – limit contractual risk and damages for your organisation

Identifying the areas ofpotential claims
Examining claims in contract
Examining claims in tort
What are the claims underother headings?
Insurance
Exclusion and limitationof damages
Breach of contract
Damages

Termination and dispute resolution

Duration
Liquidation
Change of control
Drafting key provisions to minimisethe risk of disputes
Governing law
ADR clauses
Arbitration or litigation

Practical drafting exercise

In this session participants will practise drafting contract terms and receivepractical advice and guidance on how they can develop in this area.

Some typical agreements

This session will review the terms and conditions of some typical agreements toillustrate how to avoid the legal pitfalls and challenges faced.

Service
Supply
Manufacture
Licensing

Practical workshop: Drafting and understanding boilerplate clauses with sample clauses and pointers

General provisions
Confidentiality
Costs
Assignment
Notices
Law of the contract

This is an interactive course. There are open question and answer sessions, regular group exercises and activities, videos, case studies as well as presentations on best practice and the fundamentals of reliability improvement. Participants have the opportunity to share examples from their own experience and work with the facilitator and other participants to develop actions for improvement.

Terms & Conditions

ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy