Advanced Contract Administration: Policies and Procedures

Program Overview:

Contract administration is the process of managing contract creation, execution, and analysis to maximize operational and financial performance at an organization, all while reducing financial risk. Organizations encounter an ever-increasing amount of pressure to reduce costs and improve company performance. Contract management proves to be a very time-consuming element of business. When a contract is phrased poorly, an organization might lose countless millions of naira over a simple technicality they lacked the resources to identify. Effective contract management can ultimately create a powerful business relationship and pave the road to greater profitability over the long term, but only when managed correctly, this facilitates the need for effective contract management professionals and systems. This is the focus of this program.

For whom:

Contract Administrators/Managers in corporations, businesses, labor organizations, governmental agencies contacting Officers, and other procurement specialists wanting more and in-depth training on advanced administration of contracts

Learning objectives:

At the end of the program, participants will be able to:

■ Negotiate contract terms with outside vendors

■ Draft appropriate contracts and amendments

■ Interpret contract provisions critically

■ Recognize unique requirements, characteristics, and issues that arise in different contract settings

■ Manage relationships with contractors in accordance with organizational policies and procedures

■ Monitor performance of contracts against performance indicators to ensure all obligations under agreements are met

■ Ensure that obligations to contractors are met in accordance with contractual agreements

■ Develop standard service contracts for routine services

Course outline:

Day 1: Contract Formation, Structure, and Risk

■ How and when is it Legally Enforceable?

■ Key Contractual Elements and Structure

■ Ancillary Documents and Issues

■ Different Legal Environments

■ Defining Risk – Identification and Impact

■ Key Contractual Risks

■ Selecting a contract form

■ – Letter of intent, o A letter contract, o A formal contract

Day 2: Contracts Conditions and Documentation

■ Allocation of risks and how disputes can be resolved

■ What does a contract Consists of,

■ General conditions,

■ Specific Conditions,

■ The contract documents

Day 3: Managing Contractual Risks and Liabilities

■ Performance – Quality and Time

■ Ownership and Risk of Loss or Damage

■ External Events

■ Pricing and Payment

■ Limiting and Excluding Liability

■ Breach of Contract

Day 4: Insurance, Indemnities, Types, and Limitations

■ What Are They, How Do They Work?

■ Negligence – Simple or Gross?

■ Operation in Different Legal Systems

■ People and Property

■ Cross Indemnities

■ Catastrophe Risk

■ Who Arranges, For Whose Benefit?

■ Claims Handling

Day Five: Contractual Dispute Management

■ Tiered Dispute Resolution Mechanisms

■ Negotiation – Tools and Techniques

■ Alternative Dispute Resolution

■ Litigation and Arbitration and Enforcement

■ Course Review and Learning Outcomes

Training Methodology

Lectures, discussions, exercises, and case studies will be used to reinforce these teaching/learning methods.