The Essentials of Contracting

Training course overview

Contracts are the economic lifeblood of all organisations and serve as a primary risk management tool. They set out the objectives parties wish to achieve from a particular relationship; they define that relationship – the parties’ rights and responsibilities to each other, and to third parties. Contracts can be used to minimise exposure to cost and time overruns, potential disputes, and provide forms of security for performance failures. This Coventry Academy Training Course has been designed to highlight the importance of contracts in everyday business life. It focuses on using differing contracts to balance risk, whether certain arrangements are legally enforceable, and how best to protect your organisation from potential cost and time overruns on contracts. It also features negotiation tips and techniques.

What are the goals?

By attending this Coventry Academy Training Course, you should achieve these goals:

• Understand How, When and If Contracts are Legally Enforceable
• How to Transfer Risk Through Different Contracting Strategies
• How to Use Contract Provisions to Reduce the Risk of Disputes
• Analyse What Are the Most Appropriate Forms of Security for Performance Failures
• Develop New or Enhanced Skills in Negotiating Contracts and Claims

Who is this training course for?

This Coventry Academy Training Course is suitable for a wide range of professionals involved in procurement and contracting, and whether new or experienced in their roles. These may include:

• Project Managers
• Contracts Officers
• Supply Chain Staff
• Financial Professionals

Course Outline

Amongst a wide range of valuable topics, the following will be prioritised:

• Understanding How to Create Legally Enforceable Contracts
• Using Different Contract Structures to Achieve Different Goals
• Distinguishing and Using Warranties, Guarantees and Indemnities
• Recognising How Risk Can be Distributed and Balanced Between Parties
• What Appropriate Law and Legal System Should Govern Your Contracts
• How Best to Manage Change to Minimise Delay Claims and Disruption
• How the Risks Associated with Pricing and Payment Can Best Be Managed
• Understanding the Various Remedies Available For Defective Performance
• Using Negotiation as an Effective Tool to Manage Disputes
• Appraising Other Forms of Third Party Dispute Resolution

The certificate

• Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course