Contract Reading, Writing & Negotiating Skills

CONTRACT READING, WRITING & NEGOTIATION SKILLS
Duration: 2 Days
Time: 9:00am to 5:00pm
Lunch Break: 1:00pm to 2:00pm

INTRODUCTION
Contracts form the foundation upon which all construction projects are executed. They provide the basis of agreement between the contracting parties, set the terms and conditions of the agreement, define the scope and the deliverables agreed between the parties. Problems often arise in construction companies which execute project on a “rule of thumb” basis, implementing projects because “this is the way that it has always been done”. Opportunities may be missed and risks may be overlooked if organizations continue to take such an approach. Organizations need to be aware that if they don’t manage contracts well, they will lose money. This training programme will enable organizations to conduct a thorough audit on their contracts for opportunities and risks. It is both interactive and practical, supplemented with useful exercises, activities, real-life case studies, working examples, experience sharing, group discussions and hands-on application.



LEARNING OUTCOMES / BENEFITS
Upon completion of this program, the participants will be able to:

• Understand the fundamentals of contract
• Interpret and analyze contracts effectively
• Design and draft contracts with precision
• Evaluate contractual risks and provisions
• Resolve and mitigate contract disputes

• Sources of Law
• Basic Principles of Contract
• Privity of Contract, Subcontract, Novation & Assignment

• Tools & Rules of Contract Interpretation
• Legal Analysis of the Bidding Process and It’s Consequences

• Structure of a Contract
• What is stated in the Form of Agreement?
• What needs to be in a Contract Document?

• The Drafting Process
• Effective Drafting Styles

• Risk Assessment in Contract Types
• Effective Communication

• Key commercial provisions

• What do those clauses mean?

• Contract disputes, and how to minimise disputes
• Project experience sharing

• Project Directors and Project Managers: Overseeing projects where robust contracts ensure smooth execution and risk mitigation.
• Bid Managers and Business Acquisition Managers: Crafting and evaluating proposals with a keen focus on contract terms.
• Procurement Managers and Buyers: Ensuring supplier agreements align with organizational objectives and legal standards.
• Quantity Surveyors: Managing costs effectively through well-defined contractual obligations.
• Contract Managers and Contract Administrators: Managing and enforcing contract compliance.
• Project Controllers and Claims Managers: Handling project timelines and claims with a strong foundation in contractual knowledge.
• Legal Professionals: Advising on the legal aspects of contracts to ensure enforceability and risk management.
• Finance Professionals: Ensuring financial provisions and cost implications are accurately addressed in contracts.