Almost every act in business life creates legal rights and duties; the right to receive benefits, the duty to pay for them, the duty to supply goods and services, the rights to be paid etc. Many a time these legal relationships and arrangements are being administered and managed by senior personnel in organizations that have little or no legal training whatsoever resulting in mistakes and mismanagement of the contract. The mistakes and mismanagement can have huge financial implications for the organization. Sometimes, a lot of valuable time is lost in managing the breakdown of the contracts.
This programme will help those who are in day-to-day contact with the texture of business and have to implement, manage and administer contracts. It will highlight the fundamental rudiments of a contract and how to achieve real success in contract negotiations and more importantly how to build long-term, sustainable relationships in which the deal is only the first of many steps. It would provide tips on how to write proper contracts to create value for the parties. The program will highlight how contracts are to be performed and what rights and remedies are available for breaches of the contractual terms.
The second part of the programme will cover the best method of managing contracts and how to put in place processes to manage their effective implementation. It will provide guidance on how to implement systems in the organization for planning and control of the contract during its implementation throughout its life cycle. Contract management will enables both parties to a contract to meet their obligations in order to deliver the objectives required from the contract. This is essential to make the contract work effectively and avoid nonperformance and financial risks.
As to day’s business is conducted globally, participants will also learn global contracting concepts and principles. They will learn the distinctive features of international business contracting.
The programme will be conducted through lectures, discussions, group and syndicate work. There will extensive use of case studies.
Who Should Attend?
Managing Directors, General Managers, Senior Managers, and managers in organizations who negotiate, implement and execute contracts.