Contracts, Negotiation and Management Training

Day 1: Contracts and the law
Contract law, jurisdiction and its place in business (Instruction and illustration)
It is fundamental that a contract must exist between a buyer and a seller. The usual rules of contract law will apply here, such as the requirements of offer and acceptance and an intention to create legal obligations. Fundamentals in the basis of contract law will be explored. Difficulties and the rationale for problems which may arise will be explored and explained in terms of the applied law.
Introduction to principles of contract law
Jurisdictional issues
Standard clauses and formats
Breaches of law and remedies

Day 2: The negotiation process
Commercial awareness negotiation and risk management (instruction and group working)
Contracts, negotiation and management can be time-consuming tasks, but if properly implemented, can be one of the most lucrative areas for building business relationships and generating revenue. A contract lifecycle management platform simplifies contract management processes, providing the ability to manage and avoid risk and compliance issues through templates and approval workflows, streamline negotiations with online redlining, deliver more revenue and faster with e-signatures, and more easily manage documents after they are signed helping organizations grab opportunities that may otherwise have been missed. Forward-thinking companies are turning to contract management platforms to reduce costs, mitigate risks, and increase profitability.
Negotiation and due diligence
Managing relationships in contracts
Managing contract performance
Role play scenarios

Day 3: Contract Management
Contract management and contract management systems (Instruction and case studies)
Contract management is the management of contracts made with customers, vendors, partners, or employees. The personnel involved in this key function are required to negotiate, support and manage effective contracts; they are often expensive to train and retain. Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution. It can be summarized as the process of systematically and efficiently managing contract creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk.
Using a commercially available contract management software, we will explore case studies. Offshore jurisdiction and the offshoring of contract management will be looked at from a compliance and tax point of view.
Critical success factors for effective contract delivery
The importance of contract management
Principles and concepts around contract management
The role of the contract manager