Mastering Contract Management and Claims Resolution

Introduction

This handbook provides a comprehensive guide to the Contract Management and Claims Mitigation course, focusing on the intricacies of contract law, effective management strategies, and techniques for mitigating risks crucial for achieving contract objectives. Designed for professionals across various sectors, this course aims to enhance skills in contract negotiation, execution, and claims handling, empowering participants to manage and mitigate claims related to complex contracts successfully.

Objectives:

Upon completion of this Contract Management Masters course, participants will be able to:

• Obtain necessary contractual and legal knowledge.
• Skillfully employ various types of agreements.
• Increase commercial knowledge for effective contract management.
• Handle contracts to minimize claims and disputes.
• Assess and address risk factors and their commercial and program implications.
• Appreciate the importance of accurate record-keeping and timely serving of contractual notices.
• Understand commercial liabilities arising from schedule changes and other variations.
• Develop, negotiate, and retain long-term business contracts.
• Address issues within contract structures and avoid disputes.
• Research, negotiate, and implement effective dispute resolution systems to prevent escalation.

Training Methodology

• Interactive workshops
• Case studies
• Role-playing and simulations
• Group discussions
• Expert panels

Course Outline

Unit 1: The Legal Frame of Contract Creation

• The need for contractual relations
• External and internal dimensions of a business relationship
• How to form a contract
• Important aspects of a contract
• Oral vs. written contracts
• E-contracts
• Clauses of the agreement
• B2B contracts
• The law of agency
• Legal principles
• Acquiring legal knowledge and skills

Unit 2: Some Issues Arising in Contracts

• Hierarchy of contract documents
• Delivery, acceptance, and transfer of title and risk
• ICC Incoterms
• Liability for negligence and breach of contract conditions
• Product liability in defective products
• Intellectual property clauses
• Letters of intent and instructions
• Conflict of laws and jurisdiction clauses

Unit 3: Basics of Contract Management: Different Strategies for International Contracts

• Concise statement of contract contents
• Standard clauses drafting
• Limitations of standard form contracts
• Exclusion of liability
• Uneven bargaining power
• Lump sum fixed price contracting
• Reimbursable construction works
• Economic price adjustment clauses
• Incentive values in lump sums
• Radical contract forms
• Partnering, collaboration, and alliancing
• No cure no pay concept

Unit 4: Effective Contract Management and The Management of Change and Payment

• Importance of effective contract management
• Change of terms and scope
• Change management and contract control
• Cash flow and events
• Payment and finance in foreign markets
• Bonds and stipulations
• Defects liability and warranties
• Contract termination and remedies
• Limitation of damages and claims

Unit 5: Claim Mitigation and Dispute Resolution

• Negotiation, agreement, and solution
• Court action
• Arbitration
• Dispute resolution interactions, particularly mediation
• Dispute management