Training Online – Procurement Contract Drafting

PURPOSE

• Construct relevant contracts for various purposes
• Examine the commercial impact of particular terms and conditions
• Examine the impact that would occur commercially to the certain terms and conditions
• Develop a good contract to minimize disputes between the parties
• Handle disputes efficiently and effectively
• Using the methodology used in international contracts

OUTLINE MATERI

1. The Importance of Contract

• Supervising The Process of Contract’s Construction
• The Deal Involved in The Contract
• Special Tricks to Negotiate Effectively
• Learning The Offer and Acceptance
• Learning The Battle of The Forms
• Learning About The Consideration and Intentions

2. Hands on Guide Drafting Commercial Contract

• What is a Commercial Contract The Contract Law Fundamentals & Elements
• Difference Between MOU, Letter of Intent an Agreement
• Converting MOU, Letter of Intent into a Formal Contract
• Formation of Contracts Techniques in Drafting Contracts
• Introductory Provisions Including Parties, Recitals, Definitions
• Critical Provisions Including Appointment, Conditions Precedent, Consideration, Covenants, Term & Termination, Representations, Warranties and Indemnities
• General Clauses like Governing Law, Arbitration, Force Majeure, Arbitration, etc

3. Tender Process and Different Contract Types

• Auctions and Bids
• Process Dealing with Tender
• Inviting Tender
• Proposal’s Request
• Quotation’s Request
• Prequalification
• Compliance
• Letters of Award
• Heads of Terms and Letters of Comfort
• Deciding The Type of Contract to be Used
  • Advantages and Disadvantages
  • Fixed Fee to Solve The Problem
  • Modern Methodology
• Clauses to Adjust The Economic Price
• Bonds and Guarantees
• Compliance with Law/Change of Law

4. Main Contract Clauses

• Obligation to Deliver/Perform
  • Controlling Subcontractors
  • Monitoring and Milestones
• Payment’s Secure
• Ensuring Prompt Payment
• Nonpayment Remedies
• Learning the Usage of ‘Letters of Credit’
• Parent Company Guarantees
• Time and Place of Delivery
• Transfer of Title and Risk ICC Incoterms
• The Retention of Title Clauses
• The Important of Time
• Delivery, Ownership and Risk in Procurement
• Insurance
• Indemnities When We Need Them
• Liquidated Damages/Penalties and the Dangers

5. Other Key Considerations During the Commissioning Process

• Variations and Changes
• Liability Beyond Contract
• The Value of Intellectual Property
• When do Contracts End?
• Limiting Liability
• Warranty
• Which Law to Apply to The Contract?
• Final Contract Review and Close Out Process

6. Dealing with Disputes

• Compromise and Settlement
• Dispute Resolution Clauses
• Litigation
• Arbitration

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