Workshop on 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 system. 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.