Contract Management

Introduction

Over 85% of business transactions are governed by contracts and hence it is necessary that contracts be aligned with business expectations. It requires legal and non-professionals to be well versed with the contents of contracts and expertise to foresee the risk and have futuristic thinking to handle contracts in the best interest of their organization.

Course Objectives

Upon completion of this program, the participants will be able to:

• Get to grips on understanding contractual terms and their impact on business
• Master practical knowledge of contents of agreements
• Examine specific clauses and their use
• Learn how to interpret variations and time of essence clauses
• Get up-to-date with the use contractual liability cluases and indemnities
• Understand the effect of exclusion and limiation clauses and how they can be used to manage your exposure
• Understand how Boiler Plates work

Key Content

Module 1: Understanding the Workings of Commercial Contracts

• Contractual terms and their impact on business
• What makes and does not make a contract
• Checklist for legally binding contracts
• Checklist for formation of contracts
• Checklist of what will make a contract invalid or void
• Checklist which might make the contract or particular provision unenforceable

Module 2: Analysing Commercial Risk in Contracts

• Which terms comprise the contract?
• Express and implied terms

Module 3: Risk Exposure and Assessment of Liability in Commercial Contracts

• Warranties
• Undertakings
• Indemnities
• Penalty clauses under Malaysian Law and Updates
• Exclusion Clauses
• Termination Clauses

Module 4: Understanding Boiler Plates

• Force Majeure - purpose and application
• Waiver
• Notices
• Assignment
• Special meanings given by parties and defined terms
• General Boiler Plate clauses

Target Audience

• Directors, GMs and HODs
• Managers and Head of Departments
• Procurement Officers
• Sales & Marketing
• Legal Executives
• HR
• Anyone dealing with contracts