Negotiating, Drafting and Managing Commercial Contracts
Programme Outline
Day 1
What is the “deal” behind the contract, and how do you get there?
- What constitutes a contract?
- How to structure commercial arrangements
- Innovative commercial solutions (e.g. Partnering, “BOOT” contracts etc)
- How to negotiate a contractual structure
- Basic techniques for negotiation
- How to document discussions
- Relationship between negotiation and contract drafting
- Closing a deal
- Dealing with difficult negotiators
Day 2
Drafting contracts
- Using standard forms
- Developing your own standards
- Modifying forms
- Dealing with contract qualifications and amendments
- Structuring complex documents
Negotiating contracts
- “Level playing field” issues – how to be fair to more than one bidder
- Dealing with errors in a bid
- Negotiating complex wording
- Formalities to finalise the contract
- Authority to sign
Day 3
Drafting specific clauses
- Performance of the work
- Title
- Risk
- Intellectual property
- Variations
- To the contract
- To the scope of work
- Extension of time
- Force majeure
- Time for completion
- Liquidated damages and penalties
- Acceptance and testing
- Termination and suspension
- Law of the contract and dispute resolution
Day 4
Management of contracts
- Risk assessment and management
- Kick-off meetings
- Assignment of responsibilities
- Setting and managing expectations
- Planning
- Reporting – being realistic with requirements
- Progress meetings and expediting
- Dealing with defaults
- Dealing with external factors (e.g. force majeure)
- Recognising and managing change
- To the contract terms
- To the scope of work
- Payment issues – including international trade
- Close out
- Lessons learned
Day 5
Dealing with disputes
- Recognising potential problems
- Dealing with issues as they arise
- Legal rights and commercial outcomes distinguished
- Negotiation structures for internal dispute resolution
- Types of external dispute resolution
- Litigation
- Arbitration
- Adjudication
- Expert Determination
- Mediation
- Issues with different legal systems
- Enforcement of awards
- Management of disputes
- Avoiding disputes in the first place