Contract Management

Participants attending this course will be able to:

• Describe the basic purpose of a contract.
• Describe how contracts fit into the overall legal framework of a country.
• Describe how a contract is formed including the steps that must be in place before a contract can be legally binding and the duties of both buyer and seller.
• Identify the provision of significant English legislation that may affect the formation and operation of contract.
• Distinguish between conditions of contract and warranties.
• Differentiate between the major methods of contract pricing and explain how each operates
• Recommend appropriate pricing methods for different contracts.
• Explain the objectives of contract management and the methods available to the buyer of successfully managing contracts.
• Know the key commercial terms which can be incorporated into commercial contracts, and of how these are drafted and included in contracts with suppliers.
• Explain the advantages to the buyer of identifying risks in advance.
• Describe the main method of payment.
• Distinguish between the methods opens by buyer for dealing with supplier failure, should it occur, including resources to low.
• Identify the effect on contract formation and operation of some of the major international variation on the theme of contract law.
• Describe the main purpose of INCOTERMS and distinguish between the provisions of each of them.