This is an intensive and practical day-long seminar which involves interactive discussions and “hands-on” experience. “Learn-by-doing” training will include comprehensive analysis of representative contracts for the acquisition of consultant/ professional services, equipment, facilities, and products as well as exercises in drafting clauses and negotiating agreements.
This seminar is intended for those who already understand the basic principles of contract review and drafting and wish to take their contracting skills to an advanced level. The goal is to have attendees master skills related to analyzing, negotiating and drafting the “moving parts” of more complicated business agreements. Attendees will also learn how to improve their ability to anticipate and effectively address the more complex aspects of their business contracts.
Each registered attendee is encouraged to submit their contracts to Leslie Marell in advance of the seminar for group discussion.
Who should attend?
Purchasing, Contracts, Sales, IT, Facilities, Legal, and anyone who negotiates contracts with their suppliers or customers OR those who have previously attended Contracts: Reading, Writing & Negotiating.
A minimum of two years’ prior experience in reviewing and negotiating contracts is highly recommended.
Agenda for the Advanced Contracting Seminar
Important first steps:
- Understanding your internal stakeholder’s requirements
- Questions to ask/ information to obtain
- Exercise in creating and working with a checklist for use with your stakeholders
Using your Contract Templates:
- What NOT to do
- Modifying your template to meet the specific requirements of the transaction
- Exercise in tailoring the contract template to ensure the contract reflects the deal
Limitations of Liability, Warranty and Indemnity
- A deeper dive into the legal language
- Avoiding inadvertent conflicts between the clauses
- Exercise in reviewing all clauses in the context of a single contract document
Detailed discussion of other significant issues/ clauses
- Ownership of intellectual property
- Changes clause
- Liquidated Damages
- Tying Performance to Payment
Working through Supplier objections to your contract
- Exercises in reviewing supplier’s redlines to a purchaser’s contract
- Responding to those objections
- Creating amendments
Working with Legal
- Providing direction to your legal department