Contract Law for Business

Code

795

Start Date

2025-09-07

End Date

2025-09-11

City

Boston

Price

6950 $

Language

Participants

1-15

Hotel

Hotel Meeting Room

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INTRODUCTION

All areas of the commercial world are involved, directly or indirectly, with Contracts. They are the key business tool that is used to structure and manage business relationships between different companies, and even between companies in the same Group.Everyone involved in making business decisions, and in instructing or seeking advice from specialist lawyers, needs to understand contract principles.A failure to grasp these essentials may lead to misunderstandings that have legal consequences. Lack of clarity in the Contract wording, which could have been avoided by a different approach to drafting, is a frequent source of contract dispute. One of the major problem areas concerns contract variation – requests for change orders for work that is claimed to be outside of the original Scope of Work. The programme will devote particular attention to this topic, giving delegates the opportunity to practice their drafting and negotiating skills in a role play concerned with contract change. This Contract Law for Business training course is intended to increase the knowledge of all those involved in the contracting process, and to improve their skills in understanding, negotiating, managing and drafting Contracts.

TRAINING OBJECTIVES

Provide an understanding of different types of contracting structures, and how and why contracts are drafted in particular ways
Enhance understanding of the legal principles behind contracts
Develop an understanding of why contracts are amended, and how to negotiate these changes
Allow Delegates to gain hands-on experience in analysing and amending different types of contract clauses
Explain the commercial impact of particular provisions
Develop an understanding of the skills required to write successful contract clauses

OUTLINE

Day 1 - Contract Basics
- Why do we use contracts
- Key steps in the formation of a contract
- Typical contract structure
- Standard Form contracts
- General and special terms and conditions
- Why contracts are amended
- Enforceability of contracts
- Contract examples
  - Contracts for the purchase of goods
  - Services contracts
  - Construction contracts
Day 2 - Main Contract Clauses
- Obligations to deliver/perform
- Clauses that deal with non-performance
- Suspension and termination
- Liquidated damages and penalties
- Clauses that transfer risks
- Warranty clauses
- Product liability and defective goods – acceptance and rejection
- Indemnities
- Payment clauses
Day 3 - Supporting Contract Clauses
- Limitation of liability
- Contract Variations and changes
- Dispute resolution clauses
- Force majeure
- Intellectual property
- Confidentiality clauses
- Entire agreement
- Jurisdiction and choice of laws
- Court interpretation of and interference in contracts
Day 4 - Drafting and Changing the Scope of Work
- Drafting the scope of work correctly in the Invitation to tender
- Avoiding ambiguity
- Properly allocating risks to the parties
- Defining levels of service
- Contract variation clauses
- Negotiating change orders – what to do when the contractor asks for a variation
Day 5 - Standard Forms, Surety Contracts and Informal Agreements
- Using Standard Form Contracts
- Selecting a suitable standard form
- Necessary additional documents
- Common Standard Form contracts:
  - JCT
  - FIDIC
Bonds, bank guarantees and security arrangements
- Collateral contracts to support the main agreement
  - Tender Bonds
  - Performance Bonds
  - Advance Payment Guarantees
  - Retention Bonds
  - Letters of Credit
  - Other financial guarantees
The contractual status of Informal agreements
- Letters of Intent
- Memorandum of Understanding
- Side Letters and Letters of Comfort

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