Procurement Contracting (Condensed): One Day Seminar
This seminar is a one day “crash” course for those whose time is limited.
It is a combination of the Procurement: Legal Issues & Contract Law with Contracts: Reading, Writing & Negotiating seminars.
Understanding procurement and contract law has become an essential part of conducting daily business and purchasing functions. Your ability to ensure that you get what your organization contracted for and keep out of legal disputes depends on your knowledge of purchasing law, contract law and how to read, understand, write and modify contracts.
Introduction to Contract and Business Law Terminology
- Explanation of Consequential and Incidental Damages, Remedies at Law, Limitations of Liabilities, Warranties: Express and Implied, Disclaimers, Indemnification and Insurance
- Example clauses
Fighting the “Battle of the Forms”
- Guidelines in “fighting the battle”
- Key language to include in your PO
- Real world approaches and suggestions to avoid disputes and “win” the battle
Learn the “art” of reading a Contract and how to identify the Major Issues
- A global approach to reviewing/ negotiating your Contract:
- Focusing on the important issues
- Class Exercise reading Contracts to demonstrate the process
Discussion of the FOUR most Contentious Contract Clauses
- Limitations of Liabilities; Warranties; Indemnity; Ownership of the Intellectual Property
- In depth review of these clauses from both Buyer and Seller perspectives
- Emphasis on understanding the underlying issues and why the Seller takes its position
- Approaches and techniques to negotiating these clauses
Fundamentals of Reviewing/ Writing a Contract
- Taking the fear out of reviewing/ writing a contract
- Step by step approach for reading/ understanding the clauses, including the Indemnity clause!
- Guidelines for writing clauses and putting together of contract (if you are required)
Essentials of the Major Contract Areas: A main component of the Manual
- The manual identifies TEN significant areas common to every contract
- Each area is explained in detail in the manual, giving both the Buyer perspective and Seller perspective
- Included are:
- Sample Buyer clauses with explanations
- Sample Seller clauses with explanations
- Clear-cut example clauses for: statement of work, warranties, breach, termination, damages, indemnification, insurance and boilerplate
Working with Legal
- What not to do: Hint: Don’t just throw the contract over to Legal/ Contracts
- What to do before you give your contract to Legal/ Contracts
- Creating a better working relationship with Legal to get faster advice.
Class Workshops: Hands-on Experience in Reviewing Seller’s Objections, Seller Contracts, and writing a clause
- Read and critique Seller’s clauses and contracts
- Class discussion of approaches to responding to the Seller’s clause
- Learn to write clauses
Building and Using Contract Forms
- Learn how to use checklists and forms provided
- The importance of building form file of contracts
- Customizing your contract before providing to your supplier
Techniques of Effective Negotiating
- Approaching/ Preparing for the Negotiation
- Establishing objectives
- Tips to effective Negotiation
You will receive a manual which contains approximately 200 pages of valuable material including detailed explanations and examples of countless procurement and contract principles, sample clauses from both the buyer and seller perspectives, clause explanations, and contracts.