Contract Reading, Writing & Negotiation Skills

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

• 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

Key content

Module 1: Fundamentals of contracts

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

Module 2: Contract interpretation

• Tools & Rules of Contract Interpretation
• Legal Analysis of the Bidding Process and Its Consequences

Module 3: The contract document

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

Module 4: Contract drafting

• The Drafting Process
• Effective Drafting Styles

Module 5: Types of contracts

• Risk Assessment in Contract Types
• Effective Communication

Module 6: Key commercial provisions

• Key commercial provisions

Module 7: Boilerplate clauses

• What do those clauses mean?

Module 8: Contract disputes & resolution

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

Who should attend?

This program is designed for professionals involved in various stages of contract lifecycle management, ensuring a comprehensive understanding of drafting contracts and their implications across departments.

Key roles include:

• 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.

It also bridges the gaps between departments, fostering collaboration and a shared understanding of contract mechanics, reducing risks, and enhancing operational efficiency.

Methodology

Participants will engage in brain-friendly interactive lectures designed to enhance understanding and retention of the material. The training will include experience sharing, role plays, practical exercises, and group discussions to foster a collaborative learning environment.

The focus will be on unique critical thinking and thought-provoking sessions, where participants will analyze case studies that provide real-life examples of contract management scenarios. This hands-on approach ensures that participants from various departments gain a thorough understanding of their respective roles and responsibilities, contributing to the overall success of their projects.