Expertise in Legal Negotiation and Contract Management

Introduction

Understanding contract law is crucial for organizations due to the significant financial implications associated with contracts for procuring goods, equipment, and services. With business activities governed by contracts, a deep understanding of contract law and smart contracting is increasingly important. This basic contract law course with a focus on smart contracting is designed for non-lawyers, equipping participants to handle various contract scenarios confidently and effectively.

The course will cover how contracts are formed, including standard contracts and key clauses. Participants will also explore different contracting approaches and structures relevant to today's dynamic business environment. Practical aspects of contract negotiation, including variations and claims management, will be addressed.

Objectives

By the end of this Expertise in Legal Negotiation and Contract Management, participants will be able to:

• Enhance Knowledge: Understand the basics and mechanisms of structuring and enforcing contracts.
• Analyze Complex Issues: Address complex questions related to main contract clauses.
• Appreciate Legal Issues: Gain a better understanding of legal issues in contracts.
• Explore Contracting Frameworks: Understand diverse contracting strategies and smart contract frameworks.
• Develop Skills: Improve skills in contract negotiation and dispute resolution.
• Understand Dispute Origins: Learn how and why disputes arise in the context of smart contracts.
• Manage Risk: Apply contract risk management techniques to transfer risk effectively.
• Mitigate Disputes: Use contract terms to minimize or mitigate the risk of disputes.

Training Methodology

• Lecturing by top experts
• Case analysis
• Performative games
• Group work
• Modeling
• Discussion with specialists
• Exercises

Course Outline

Unit 1: The Making of Contracts

• The demand for contract-making in current technology and business practices
• Contract formulation fundamentals, including smart contracts
• Industry-specific contract requirements
• Oral and written agreements, and smart contracts
• Cross-border agreements and smart contracting
• Basic and SMART contract templates
• Contracts for various business models and innovations

Unit 2: Key Elements of the Main Contract and Related Questions

• Definition and scope of work in contract law and smart contracts
• Force majeure considerations in a rapidly changing business environment
• Operating within contract terms amidst market turbulence
• Clarity in delivery, acceptance, and contract conditions
• Termination and suspension policies
• Warranty issues and terms in smart contracts
• Contracting law and court policies, especially for smart contracts
• The role of the entire agreement clause

Unit 3: Changes and Alterations and How to Introduce Them Into the Contract

• Valuation of contract changes and smart contract options
• Inserting variation clauses for scope changes
• Using variation clauses in flexible, non-standard agreements
• Analytical techniques for managing scope changes and ensuring fairness
• Documenting and managing extensions of time and disruptions
• Control changes to avoid conflicts and misunderstandings
• Assessing risks and opportunities in dynamic contract negotiations

Unit 4: Contractual Documents and Payment Issues

• The role of Letters of Intent and Award in pre-contract negotiations
• Bonds as performance assurance and risk mitigation
• Provisions for progress payments and fair remuneration
• Parent Company Guarantees as risk mitigation devices
• Simplified contracts and terms
• Termination mechanisms: suspension, termination, and expiration
• Legal history of breach of contracts, compensations, and damages

Unit 5: Dispute Resolution

• Techniques for preventing disputes
• Identifying and handling disputes appropriately
• Mandatory pre-dispute negotiation periods
• Advantages of third-party dispute resolution (litigation and arbitration)
• Mediation and alternative conflict resolution methods
• Reviewing and evaluating issues to support future contracts