Course Details
Course Outline
5 days course
Importance of Contracts, and How to Prepare?
- Need for contracts and how to prepare
- Laws and regulations in a contract
- Understanding the tender process
- Concept of Law of Agency (Agency Authority)
- Methods of strategic sourcing (alternative sourcing strategies)
Documents for Security/ Guarantee
- Understanding of the concept of bonds and guarantees
- Security/guarantee documents for parent company
- Insurance policies relating to contract
- Importance of financial security
- Performance security in a contract
- Letters of intent in a contract
Format/Layout of a Contract
- Different forms of agreement
- How to put the terms and conditions in a contract
- Different types of contract for a project
- Contract for International Trade ( title ownership) and risks associated with it
- Reaction and preparation of notices
- Understanding the legal process
Amendments/Change to Contract Documents
- Change in clauses to a contract
- How changes in work affect the project contract?
- How to manage claims? , understanding the reason for claims
- How delay in project affect the project contract?
- Understanding and distinguishing between “Novation” and “Assignment” in a contract
Resolving Conflicts/Disputes in a Project Work
- Understanding how and when disputes occur
- How to avoid conflict ?
- Understanding how to negotiate and mediate
- Understanding the concept of “Litigation” and “Arbitration”
- Novel practices of dispute management
Resolving Differences and Difficult Situations
- The negotiator as a mediator in the process
- Handling difficult negotiators
- Negotiation case study
- Team allocation and simulation exercise
- The Do’s and Don’ts of Negotiating
- Improving what we do - action planning
