Contract Management Training: 2 Days

Contract Management: The Legal Aspects Training Course Contract Management Training
By Peak Success Abundance
Contract Management:

Contract Management: The Legal Aspects

“Have a thorough grasp and understanding of all the critical elements that constitute a proper business contract.”

By Peak Success Abundance


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Contact Customer Service +603-4270-3064
+6016-5488-336
Email Customer Service info@peaksuccessabundance.com
Course Title:
Contract Management: The Legal Aspects
Training Category:
Business Management
Duration:
2 Days
Target Audience:
All managers and executives who want a thorough understanding of the legalities involved in commercial contracts and to learn how to overcome them.
For In-house Training
Request for Quotation Request for Quotation
For Other Inquiries
Contact Peak Success Abundance
Contact customer service +603-4270-3064
+6016-5488-336
Email customer service info@peaksuccessabundance.com
Delivery Methods
  • Language: English
  • PowerPoint Presentation
  • Workshop
  • Group Discussion
  • Presentation Handouts
  • Reading Materials
  • Participant Presentation
  • Video Presentation
  • Lecture
  • Case Studies
  • Certificate of Participation
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Course Introduction ›

Contractual agreements govern and control almost 80% of all business transactions and they are the foundation of almost all business relationships. It is therefore imperative and of critical importance that all business managers and executives in any organization should have a thorough grasp and understanding of all the critical elements that constitute a proper business contract.

Course Objectives ›

Contracts dictate the terms and conditions of business transactions, price, delivery, reliability and all other aspects of service level. It is therefore essential that business managers and executives:

  • To understand the importance and workings of contracts in all business relationships
  • To be able to draft an enforceable contract with all the necessary requirements
  • To be able to grasp the law of contract principles relating to the formation of contracts especially the structure and presentation
  • To ensure you meet the aims of the client/s
  • To be able to differentiate and formulate contract for different vendors e.g. local or overseas
  • To be able to read and understand business contracts
  • To know what to do in case of breaches of contracts or contractual disputes or disagreements
  • To understand about remedies and penalties in a contractual agreement
  • To be able to evaluate risk management implications for contractual arrangements
  • To be able to interpret a commercial contract from the perspective of the courts

Course Outline ›

DAY 1

DRAFTING AN ENFORCEABLE CONTRACT - THE REQUIREMENTS

  • Formation of contract
    • Forms
    • Essentials of contract
  • Pre-contractual agreements
  • Consideration of the relevant principals of law
    • Recent development in this area
    • Developments in foreign jurisdictions?

THE STRUCTURE AND PRESENTATION OF A COMMERCIAL DOCUMENT

  • The general terms
  • The structure of the contract
    • Parties
    • Recitals: why are they necessary?
    • Operative parts: what does this mean?
  • Interpretation
  • General terms
  • Commercial terms
  • Secondary provisions : applicability
    • Schedules
  • Warranties : is there a difference with Fundamental Terms
  • Tax : why is important
  • Special terms for employment [ foreign employees], IT
  • Execution and attestation

SPECIFIC CONTRACTS: LOCAL VS OVERSEAS

  • Contracts for the Sale of Goods; Bills of Exchange; Export Contracts; Logistics Provision; some conveyancing contracts.
  • Statutory requirements
  • Practice during drafting
  • Remuneration/Payment clauses
    • Consideration
    • Type, Form, Manner and time of payment
    • Stakeholder
    • Escrow agents
    • Delays between signing and completion

MEETING THE AIMS OF THE CLIENT

  • What does the client want
  • Who will draft the contract
  • Are specific instructions
    • Do these offend any laws
  • Explaining the contract terms to the client
    • Warning of uncertainties
    • Warning of possible problems

BREACH OF CONTRACT - THE BASIS OF THIS CONCEPT

  • Identifying breach to ensure understanding your contractual obligations
  • Identifying the legalities and consequences of breach
  • Preventing breach
  • waiver of breach and effects
  • What to do when contract fails

INTERPRETATION OF CONTRACTS BY COURTS

  • Why Interpret and what rules apply
  • Interpreting a commercial contract?
  • Understanding the ambiguities, absurdities and technicalities involved in commercial contracts; examining the contra proferentum rule
  • When does the contract prevail over the Common law
DAY 2

CONTRACTUAL DISPUTES

  • Arbitration or court or mediation process
  • Choice of law and jurisdiction Clauses
    • Exclusion, or limitation
    • Entire Agreement
    • Conclusive evidence or certificate of indebtedness
  • Damages
    • Direct or indirect
    • Consequential loss
    • Contracts Act
  • Indemnities
  • Warranties, representations

THE BREACH OF THE CONTRACT

  • Breach and Repudiation - is there a difference
    • Anticipatory breach
    • Breach on the due date
  • Termination:
    • Termination by Agreement
    • Termination by frustration
    • Termination on breach
    • Termination on performance
  • Substantial performance
  • Remedies available?
    • Damages
    • Injunctions
    • Specific performance
    • Rescission
    • Restitution

UNDERSTANDING REMEDIES & PENALTIES IN A COMMERCIAL CONTRACT

  • Agreed Damages Clause
  • Limiting Damages Clause
  • Penalty Clauses and its Effects on Contracts - position at law
  • Proving Damages - is there a need

EQUITY IN BREACH OF CONTRACT

What is Equity?

Common law and equity have undergone fundamental assessments by the courts. This includes the field of remedies for breach of contract where both the types of remedies available ant the circumstance in which they will be available are receiving close attention. This session are focuses on specific examples and considers the wider implications of these developments:

  • Specific performance
  • Accounts
  • Injunctions
  • Tracing

RISK MANAGEMENT IMPLICATIONS FOR CONTRACTUAL ARRANGEMENTS

  • Identifying and allocating risk between the parties
  • Drafting indemnity and insurance clauses
  • How to minimise risk
  • How to assess your exposure in the contract

Contact us now ›

  • Course content customization
  • In-house training request
  • Available public program
  • Consultation services
  • Other inquiries
Contact Customer ServiceCall : +603-4270-3064, +6016-5488-336
Email Customer Service E-mail : info@peaksuccessabundance.com

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