Negotiating and Drafting Contracts: Key Techniques and Best Practices

Introduction

Legal contracts define acceptable terms for all parties involved and enforce the agreed-upon conditions. Contracts are essential across every industry, underscoring their importance in structuring and managing business transactions.

This training course covers two key areas: the principles of international business operations and contract construction. Participants will navigate through the entire project cycle, from negotiation to documentation and contract management, acquiring a broad set of skills applicable to various contracts and industry practices.

Legal advisors can also benefit from an advanced course focused on drafting commercial contracts. This practice-oriented course prepares lawyers to draft, manage, and negotiate complex contracts with precision.

Objectives

At the end of this negotiating and drafting contracts training, participants will be able to:

• Utilize effective approaches and tools for successful negotiation.
• Draft and amend specific contract clauses with practical examples.
• Understand various contract types across different jurisdictions.
• Enhance skills for efficient contract management.
• Implement strategies to prevent and handle disputes effectively.

Training Methodology

• Interactive workshops
• Case studies
• Simulation exercises
• Role play
• Group discussions
• Negotiation drills
• Peer review

Course Outline

Unit 1: The “Deal” Behind the Contract and How Do We Get There?

• What is a contract?
• Contracts in commercial activities
• Commercial innovation (e.g., Partnering, BOOT)
• Contract structure and basics of negotiation
• Recording negotiation meetings
• Relationship between negotiation and drafting
• Negotiating and finalizing contracts

Unit 2: Drafting Contracts

• Comprehensive forms and standard clauses
• Request process and form modifications
• Developing complex contract documents

Unit 3: Negotiating Contracts

• Ensuring balance in competitive tendering
• Common bidder mistakes
• Concluding contracts
• Execution details and authority to contract

Unit 4: Drafting Specific Clauses

• Work performance requirements
• Title and ownership clauses
• Risk allocation
• Intellectual property rights
• Variations and scope of work
• Extension of time, force majeure, and completion stipulations
• Liquidated damages and penalties
• Acceptance criteria and testing
• Termination, suspension, governing law, and dispute resolution

Unit 5: Management of Contracts

• Risk analysis and control
• Initial contract meetings and role designation
• Setting expectations and management
• Best practices in contract planning
• Reporting requirements and progress management
• Addressing defaults and external influences
• Adapting to changes and finalizing contracts

Unit 6: Dealing with Disputes

• Identifying issues and proactive management
• Separating legal and business interests
• Negotiation process for internal conflicts
• Alternative dispute resolution methods (litigation, arbitration, mediation)
• Impact of legal environments on conflict resolution
• Monitoring and complying with resolutions
• Strategies for peacekeeping and avoiding disputes