Contract Management

Course Objectives:

A contract is formed on the standard contract terms or the General Conditions of Contract (GCC) by exchange of communications, auction or tender. The terms of the contract set the rights, duties and obligations of the parties. An integral part of managing the contract is negotiating the terms of the contract and performing the duties and obligations under the contract.

The terms of GCC are legal and technical in nature and mostly inaccessible to managers. The objective of the programme is to develop a comprehensive understanding of the meaning and scope of the terms of the contract and make the terms readily accessible.

Programme Highlights:

The programme will cover the following themes and contract terms:

• Formation of contract.
• Standard bid documents, tender and award of tenders.
• Online contracts, mistake and auctions.
• Breach and termination of contract.
• Impossibility of performance (force majeure clause).
• Forfeitures, loss and damages.
• Delays and liquidated damages.
• Risk, loss and indemnities.
• Condition, warranty, merchantability and quality of goods.
• Transportation, delivery, and Incoterms.
• Letters of credit, bank guarantee, and performance guarantee.
• Jurisdiction of courts, arbitration and dispute resolution.
• Confidentiality clauses and exemption/exclusion clauses.

COVID-19 and Contracts: 

The Coronavirus pandemic will lead to, among others, claims of impossibility in performance; termination of contracts on the grounds of breach and impossibilities; claims of damages for breach and liquidated damages for delays; and claim of indemnities and guarantees. The programme will integrate these themes in its delivery.