Mastering Contracts: Reading, Writing, and Negotiation Techniques

Introduction:

An in-depth understanding of contract law is crucial for effective business operations. Whether involved in purchasing, contract management, subcontracts, project management, general management, or sales, individuals frequently encounter legal and contractual elements.

Many face difficulties due to complex contract wording, which can hinder their ability to draft, amend, or assess business documents. Addressing these issues, this contract negotiation seminar aims to provide participants with practical experience in contract negotiation, particularly focusing on employment contracts. The seminar emphasizes the practical application of negotiation skills and document preparation.

Objectives:

After completing this course on Mastering Contracts: Reading, Writing, and Negotiation Techniques, participants will be able to:

• Identify variations in contract structures and drafting.
• Increase understanding of the legal environment surrounding contracts.
• Highlight main clauses of different agreements.
• Assess the economic significance of certain clauses.
• Compare provisions across various standard templates.
• Craft concise contract provisions to prevent disputes.
• Provide clear reasoning for evaluating and addressing proposed changes.
• Revise documents to meet specific requirements and apply special provisions.
• Develop strategies and techniques for negotiating amendments.
• Allocate contractual terms to minimize dispute risks.
• Identify conflict areas and reduce their impact.
• Explore alternatives to litigation for resolving international contract disputes.

Training Methodology:

• Asymmetrical methods
• Project assignments
• Games
• Wave practice
• Joint editing
• Debates
• Round table discussions

Course Outline:

Unit 1: How and Why Contracts Are Drafted?

• Importance of contracts
• Formation of a contract
• Types of consideration in a contract
• Verbal vs. written agreements
• Internet agreements
• Clauses of an agreement
• Issues of agency
• Standard forms of agreements
• Documents encompassing other documents
• Pro-forma agreements
• Scope of agreements
• Hierarchy of documents

Unit 2: Main Contract Clauses

• Delivery/performance obligations
• Redesign/re-execution
• Damage risk
• Ownership
• Legal requirements/regulatory amendments
• Restitution
• Insurance coverage
• Liability for negligence
• Correlation with contract terms
• Changes and variations
• Product liability and defective goods
• Rights, functions, and obligations
• Subcontracting
• Intellectual property
• Taxation
• Suspension and termination
• Documents evidencing completion of works
• Payment and security
• Liquidated damages/penalties
• End-user products
• Legal conflict resolution for international contracts

Unit 3: Other Documents

• Tender documents
• Letters of Intent and award letters
• Letters of comfort or awareness
• Side letters
• Subsidiary bonds or guarantees
• Parent company guarantees

Unit 4: Drafting of Contracts

• Clarity in drafting
• Legal definitions
• Process of translating documents
• Explanation of required documents

Unit 5: Negotiation and Resolution of Disputes

• Contract negotiation
• Dispute resolution clauses
• Negotiation, compromise, and settlement
• Litigation
• Arbitral procedures
• Alternative dispute resolution methods (mediation, conciliation, early neutral evaluation, expert determination, mini-arbitration, pendulum arbitration)