Contract Law and Contract Management

Objective

• The intent of this module is to provide participants with the information and knowledge needed for an understanding of issues pertaining to the preparation and management of contracts. Buyers should also understand the impact of their action on contract issues on the organisation.

Learning outcome:

• By the end of this course you will be able to:
  • Understand the basics of contract law and its effective use.
  • Identify which contract management approach is most effective for a given category of spend
  • Understand the various terms and conditions in a contract
  • Create the right environment for effective contract management
  • Managing identified risks through contracted terms and conditions
  • Ensure key performance measures can be effectively manage via the contract

Contract laws

• Preparation of contracts in respect to the laws
• Major issues in relation to major laws
• Contractual conditions and their impact
• Steps leading to the formation of contracts
• Formation of contracts
• Case study
• Contract Pricing Methodology
• Pricing methods and their applications
• Combination of Pricing in contracts

Contracts management

• Risks and its management
• Objectives of contract management
• Contractual Terms
• Handling Disputes
• Liquidated Damages
• Case study

International contracts

• World Trade Organization Requirements
• Free Trade Agreements
• Other Applicable laws/agreements
• International Delivery terms

Risks of a public contract

• Types of risk eg. Political, law changes, limited competition etc
• Contractual failure, consequential effects

Recovery actions