The two day practical workshop will help delegates enhance their skill on the subject, resulting in a positive impact on the bottom line of the company
•Learn how to create a formal contract
•Deal with contractual clauses that minimises contractual risk
•How to effectively read tender/bid documents/proposals.
•Understand how to deal with and focus on impacts and risks in Variation Clause
•Understand in details entitlement to EOT and concept of Time At Large.
•Understand Delay Claims
•Understand, identify and learn about risks and costs involved when dealing MOU/LOI and NDA
•Suggestion on how Claims can be avoided and focus on best practices on contractual correspondence.
•Understand the pitfalls in drafting Scope of Work (SOW)
•Understand methods involved in measuring Contractor Performance.
•How to deal with dispute and dispute resolution clauses in a contract.
•Dispute Resolution
•International Best Practices
Curriculum
Day-1 Construction Contract Management
1. Contract Law Principles- How are Contracts Formed.
When does an Agreement become a Contract?
When does a LOI/MOU (Letter of Intent /Memorandum of Understanding – become a contract
• Contracts
• Offer or Proposal
• Rejection of an offer / Counter offer.
• Acceptance
• Consideration
• Essentials of Valid Contract
• Free Consent
• Quasi Contracts
• Performance of Contract
• Breach Of Contract / Material Breach of Contract
• Battle of Forms
2. Commercial Terms and Conditions
Thorough understanding of clauses, which deals allocation of Risks Taking preventative steps in Mitigating the Risk
• Indemnity
• Assignment and Delegation
• Successors and Assigns
• Limitation of Liability/Total Liability Cap
• Third Party Liability
• Force Majeure
• Damages,Liquidated Damages/ Penalty
• Consequential Damages
• Negligence/Gross Negligence and Wilful misconduct
• Exclusive Remedy Provisions
• Governing Law
• Insurance
• Subrogation and Waiver of Subrogation.
• Representations
• Warranty
• Warranty and Guarantee
3. Identifying risk involved and cost implications in
• Letter of Intent (LOI)
• Memorandum of Understanding (MOU) and
• Non Disclosure Agreement (NDA)
Understand International Best Practices
4. Scope of Work/Statement of Work (SOW)
• Understanding Scope in detail
• Pitfalls in dealing with Scope
• Guideline for drafting Effective SOW
• Managing SOW
• Case Study
5. Commercial Terms in a Contract
• Understanding Bid Bonds
• Advance payment Bonds
• Difference between Bonds and Guarantees
• Performance Bond/Security
• Retention Money/Bond
• Comfort Letter
• Letter of Credit
• Parent Company Guarantee
• Contract Price
6. Types of Contracts
• Fixed Price Contract or Lumpsum Contracts
• Cost Reimbursable Contracts
• Time and Material Contracts
• Unit rates
• Maximum Price
• NAPNOC
• Measurable
• Re-measurable contracts
7. IPR Rights in a Contract
• IPR Ownership Rights in a Contract
