In today’s dynamic business environment, understanding the complex web of contractual risks, insurance complexities and indemnity strategies is paramount. The goal is to seek to eliminate risk that can be removed, then reduce and managing the remainder. This course will give professionals like youthe expertise needed to navigate contracts, insurance policies and indemnity agreements effectively. We will delve into risk management, strategic decision making and mastering the tools required to safeguard your organisation and its contracts against potential liabilities. It is important that contract personnel understand contractual risks and what insurance can (and cannot) do to remove the financial consequences whilst remembering that insurance only mitigates the effect of risk, it does not make the risk itself go away.

Course Content

Contract Formation and Management

·        Formation of Contracts - Exploring oral vs. written contracts and their essential elements.

·        Understanding terms, conditions, liquidated damages, and limits of liability.

·        Contract Structure - Exploring standard forms,incorporation of documents, and letters of intent.

·        Financial Guarantees - Understanding bank bonds,parent company guarantees, and related aspects.

Understanding Commercial Risk and Contract Mitigation

·        Identifying Risks - Understanding the difference between risk and impact mitigation.

·        Legal Framework - Exploring contracts, incoterms,and intellectual property considerations.

·        Contract Types – Incoterms - Examining various contracts and their nature, including key terminology.

·        Legal System - Comparing legal systems to identify common practices and differences.

Insurance & Risk Management

·        Insurance Fundamentals - Coverage and limitations of insurance.

·        The Finer details - Addressing issues related to arranging, beneficiaries, and extension to subcontractors.

·        Indemnities - Understanding indemnities, cross indemnities, and managing claims under project policies.

·        Limits on Cover

·        Bonds

Resolving Disputes

·        Negotiation and Communication - Emphasising effective negotiation and communication strategies.

·        Dispute Resolution Clauses - Exploring staged dispute resolution, mediation, conciliation, and expert determination.

·        Legal Recourse - Understanding litigation,arbitration, enforcement of judgments, and new best practices in dispute resolution.

Who Should Attend?

This training course will be relevant to professionals engaged in various roles related to contracts including - Tendering, Purchasing, Procurement, Project Professionals, Contract Administration, Engineering, Operational, Maintenance Professionals, Risk,Claims, Financial, and Audit Professionals, Project Management Professionals and all others who are involved in the planning, evaluation, preparation and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services.

Certification

On completion of this one-day training course, you will receive your Certificate of Attendance. Please note certificates are issued at the close of the training course to participants on completion of the course. Please check directly with your association or awarding body to see how many points they will award.

Cost

An ‘Early Bird’ discounted rate of €485 is currently available. This training course normal rate is €585. Places are limited and are allocated on a first come first served basis. PLEASE NOTE THE EARLY BIRD RATE CLOSES 3 WEEKS PRIOR TO COURSE DATE. The course cost includes all course documentation and certificate of attendance.