Business and commercial

Project Success through Understanding Contracts (V)

Develop solution-based engineering contracts which protect the interests of both parties.

16 hours

Course	Location & Date
Project Success through Understanding Contracts (V)	N/A

Members:
£1,095.00 Plus vat

Non Members:
£1,350.00 Plus vat

Summary

Develop solution-based engineering contracts which protect the interests of both parties.

Commercial Risk is aimed at risk management through practical remedies, avoiding any hostilities between contracting parties and a breach of contract resulting in court involvement. It’s about collaboration between the contracting parties to achieve a win-win optimum outcome when risks materialise, and the best outcome is not always possible. It gives the non-breaching party a solution, not just monetary compensation, which is all a court can award, but it also preserves the reputation and demonstrates the professionalism of the breaching party. This ensures that going forward, there is respect between the parties and an on-going working relationship.

This course also emphasises the importance of collaboration between internal stakeholders. Contract writing is a team effort between commercial, legal and technical, project and engineering staff to ensure a signed contract is a lawful as well as a practical, working project document.

Who should attend?

Engineers working towards professional registration and for non-engineers working in engineering organisations, who need to mitigate and manage risk, preserve relationships and reputation and achieve best outcomes.

How will I benefit?

See your role in a broader, more commercial context
Think more strategically when preparing bid submissions or evaluating tenders
Increased likelihood of successfully winning submitted bids and making the right supplier choice
Identify the benefits of time spent at the front end, pre-award, on drafting and negotiating a solid contract to reduce problems later on during the contract management stage
Appreciate the value of good preparation and groundwork, prior to submitting a bid and in advance of a negotiation
Anticipate, identify and manage potential risks, both pre- and post-contract award
Make a greater contribution to the profitability of your projects and contracts
Develop your commercial awareness

Contributes 16 CPD hours

Key topics

The commercial environment
Basic principles of English contract law
Process of evaluating obligations, liability and risk in a contract
Express terms – Supplier’s liability
Express terms – Buyer’s liability
Other core express terms
Intellectual property

In-house and bespoke training

Tell us your team's CPD needs and we'll come to you with a specialised training programme, customised for your engineering sector.
Contact our advisors if you need help finding the most appropriate training for your team.

At a glance

Duration:

16 hours
CPD Hours:

16
UK-Spec:

C, D, E

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Tell us your team’s development needs and we’ll come to you with a specialised training programme, customised for your organisation.

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