Goals:

• Provide a clear understanding of the legal principles of contracts
• Provide an understanding of the need for and benefits of the competitive tendering and contracting process
• Outline the process of sourcing and selection within the competitive process
• Provide an understanding of the core elements of competitive contracting
• Provide a comprehensive understanding of the structure of complex contracts
• Examine and understand General Terms & Conditions
• Examine and understand Special Terms & Conditions
• Explain the commercial impact of particular provisions

Attendees will benefit by gaining skills and knowledge on the whole contracting process and disciplines through:

• A clear and in depth knowledge of the legal principles underpinning a range of contractual agreements
  
• A detailed understanding of contract structures
• An in-depth knowledge of contract terms and conditions and their implications
• Applying an enhanced skill set in the commercial implementation of contracts

DAY ONE - Commercial risk and mitigation through the contract

• The need for contracts
  
• Identifying risk
• Risk mitigation or impact mitigation?
• Types and nature of contracts
• Definition of terminology i.e. Conditions of contract & terms of contract
• Different legal systems – how to look for common practices

DAY TWO - Sourcing and selecting – contractors and consultants

• The reasons for competitive tendering
  
• Pre-qualification
• Selecting a restricted bid list
• Preparing an Invitation to Tender/Bid
• Managing the competitive contracting process
• Offer/Acceptance and the formation of a contract

DAY THREE - Structure of a contract

Structure of a contract

• Model forms – advantages & disadvantages
  
• Incorporation of documents within the contract

Special Conditions, NDAs, Letters of Award, Instructions to Proceed

• Contract conditions precedent
  
• Contract conditions subsequent
• Bonds and implications on price

Tender bonds, Performance bonds, warranty bonds, parent company guarantees

• General terms & conditions of contract
  
• Special terms & conditions of contract

DAY FOUR - Principal terms & conditions of contract (A)

• Express & implied terms
  
• General terms – detailed review
• Breach and remedies
• Damages clauses – liquidated damages & damages at large
• Force majeure and delay

DAY FIVE - Principal terms & conditions of contracts (B)

• Special terms – detailed review
  
• Shipping and freight - risks
• Intellectual property rights: Patents, Copyright, Design Rights, Trademarks
• IT and software contracts – Escrow agreements
• Planning Dependencies
• Testing
• Acceptance and closure
• Insurance – nature and types of insurance available
• Who should arrange client or contractor?
• Implications of requiring full disclosure of PI or other limits of liability
• Claims handling procedure

The course is designed for anyone who is an acting or aspiring contracts professional, whether you are a contract engineer, commercial or legal adviser, consultant or contracts administrator in any sector of industry and/or business, but particularly in the oil & gas and construction and engineering industries. The course is appropriate for those who have some contracts experience with contracts written in the English language. This is also particularly relevant to those contracting in an international context, or who may do so in the future. Persons who are members of current teams, business planners, technical professionals and engineers moving into contracts management, or project leadership and executives responsible for planning or managing projects would find this seminar valuable.