House of Contracts, Inc.

Those involved in deal structuring, contract formation and contract administration are constantly challenged by unfamiliar and risky contract terms. Failure to recognize and properly respond to key contract terms and contract risk can not only result in financial loss but can easily be a career ending event. This course will help you obtain a clear understanding of the basic structure of a commercial contract and familiarize you with key contract terms. Through classroom exercises and case study analysis, you will learn how to identify and respond to risky contract language.

Cost of Seminar

$395.00
(one-day)

Dates Offered

Location

Purchase Seminar

Please call (770) 931-3600

COURSE TOPICS

1. An Introduction to Contracts
    a. Definitions
    b. Purpose of a contract
    c. Legal elements
    d. Oral vs. written contracts
    e. Basis of contract law
            • Common Law
            • Uniform Commercial Code (UCC)

2. Overview of a typical commercial contract form
    a. Heading
    b. Recitals
    c. Commercial terms and conditions
    d. The Statement of Work (SOW)

3. Essential Contract Terms
    a. Payment
    b. Scope
    c. Delivery, risk of loss and title passage
    d. Changes
    e. Indemnification
    f. Insurance
    g. Warranty
    h. Dispute resolution
    i. Excusable delays
    j. Limitation of liability
    k. Governing las
    l. Discretionary terms (termination for convenience, confidentiality, etc.)

4. Contract Risk Management
    a. Recognizing sources of risk
    b. Miscellaneous "Gotchas"
    c. Risk Analysis

5. Practical Exercise
a. Recognize unfavorable contract language
b. Mitigate contract risk

COURSE OBJECTIVES

   • Demysify the "legalese" in contracts
   • Learn key legal aspects of contracts
   • Become familiar with essential contract terms
   • Gain an understanding of the most troublesome contract issues and how to dela with them
   • Gain from lessons learned by others
   • Recognize unfavorable contract language
   • Learn key principles of risk management

WHO SHOULD ATTEND

   • Buyers
   • Contract Managers
   • Subcontract Managers
   • Purchasing Managers
   • Contract Negotiators
   • Sales Personnel
   • Project Managers

CONTINUING EDUCATION CREDIT

Participants who successfully complete this program will receive 7 hours of continuing education. They may be applied toward ISM C.P.M. recertification and/or A.P.P. reaccreditation program requirements. ISM's consent to provide a program number for this educational event is not an endorsement of this program or its content by ISM.


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