Commercial and Business Contracts: A Practical Guide

Course Code: LT03

Course Objective

  • Analysis of the risks inherent in the formation and management of contracts
  • Explain key contract provisions and provide instruction on how to manage contract risk effectively
  • Interpret essential contract clauses and understand the specific terms and conditions
  • Develop your ability to negotiate an effective contract to protect your corporation’s interests
  • Discuss where things can go wrong, and learn how to avoid problems, or mitigate their effects through well drafted contracts and good management
  • Recognize how to avoid disputes but be prepared to deal with them if they arise


Target Audience

  • Marketing and sales staff
  • Management professionals
  • Other employees in corporate or governmental organisations who have a responsibility for drafting, negotiating, or approving contracts
  • Professionals such as legal and financial staff


Course Outline

DAY 1: How Contracts are Created

  • Quantifying Risks
  • The benefits of understanding contracts
  • The pitfalls of getting it wrong
  • Controlling the Contract Process
  • Understanding the deal
  • Controlling the negotiation
  • Contract Formation
  • Offer and Acceptance
  • Battle of the forms
  • Consideration and Intention
  • Does a contract have to be written?
  • Pre-contractual Issues and Documents
  • Due diligence, permits, and financial stability
  • When are you committed?

 DAY 2: Controlling the Contracting Process

  • Auctions, Bids and Tenders
  • Invitations to Tender and Treat
  • Heads of Terms and Letters of Intent
  • Bonds and Guarantees
  • Standby Letters of Credit
  • Form of Agreement
  • Contractual structures
  • Incorporating standard terms of business
  • Informal Contracts
  • Letters of Comfort
  • Subcontracts and Warranties

 DAY 3: Key Contract Clauses

  • Pre-contracts and Post Contract “Qualification Phrases”
  • Subject to contract
  • “Without prejudice”
  • Subject to client comment
  • Securing Payment
  • Payment Obligations
  • Non payment remedies
  • Letters of credit
  • Guarantees
  • Delivery, Ownership and Risk
  • Time and place of delivery
  • Late and failed delivery
  • Damage in transit
  • Ownership and Acceptance
  • Transfer of title and risk
  • Retention of title
  • Time of the essence
  • Liquidated Damages

 DAY 4: When Things Go Wrong

  • Contract Liability
  • Managing Liability
  • Limits of liability
  • Damages
  • Insurance and Indemnities
  • Product Liability
  • How a claim is brought in contract
  • How a claim is brought in negligence
  • Practical Risks
  • Frustration of a Contract
  • Force majeure
  • Notices and Service
  • Entire Agreement & Waiver
  • Interpretation and Signing
  • Authority to sign a contract
  • Power of Attorney
  • When do Contracts End?
  • Termination/discharge
  • Transfer
  • Variation
  • Mistake

 DAY 5: Disputes and Compliance

  • Choice of Law
  • Choice of Dispute Resolution
  • Negotiated settlement
  • Litigation
  • Arbitration
  • Mediation, adjudication, and experts
  • Settlement Issues
  • Enforcement of judgements and awards
  • Jurisdiction
  • The Importance of Business Integrity
  • Bribery
  • Corruption
  • Money laundering
  • Competition law

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Date & Location

Date : 14 April 2019

Duration : 14 days

Place : Kuala Lumpur

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Date : 07 July 2019

Duration : 14 days

Place : Istanbul

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Date : 15 September 2019

Duration : days

Place : Beirut

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