The Essentials of Contracting & Contract Negotiation

Created by LEC Team
Last updated Mon, 27-Mar-2023
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This entails abilities in working out and drafting the contract, along with handling the very same and bargaining issues as well as disagreements that may emerge.

The module will certainly consider how contracts are produced, as well as several of the major stipulations that appear in contracts, along with many alternate having methods as well as frameworks. The course will certainly additionally consider methods for third party disagreement resolution. The second Component will cover the entire range of negotiations, evaluating the entire settlement procedure and showing how a joint design to dealing with conflicts or problem preserves the win/win strategy (which was set before any kind of disagreement developed!).

Course Goals of The Fundamentals of Contracting & Agreement Arrangement

  • Offer an understanding of just how contracts are formed
  • Give an in-depth evaluation of concerns behind major agreement stipulations
  • Boost understanding of various having approaches and structures
  • Discover how to transfer risk through different agreement types
  • Understand conflict resolution strategies via courts and various other alternate approaches
  • Use the main negotiation stages-- Preparation, Conversation, Proposing, Summarising and Concluding
  • Accomplish 'win-win' outcomes within the negotiating procedure
  • Understand the significance of conflicts, their causes as well as the long-term impact they can have on service relationships
  • Determine and also make use of methods to resolve the root causes of disputes

Day 1
How Contracts are Formed:

  • The reasons for using contracts

  • Basic principles in contract formation

  • Examples of formalities for contract formation

  • The use of written or oral contracts

  • Authority to sign a contract

  • Basic contractual structures

  • Use of different types of contract for different business models

  • Ethical issues

Day 9
Personal Skills in Dispute Negotiation:

  • Motivation – analysis of needs, interests, positions, and escalation

  • Motivators of conflict and 5 alternative approaches to dispute resolution

  • Team negotiations – Why? What? How? Who? When?

  • Handling conflict and deadlock

  • Personal skills development

  • Fitness check

Day 8
Negotiating Styles, Tactics and Ploys:

  • Cultural & international issues: negotiating styles around the World

  • Emotion and negotiation

  • Managing negative emotions

  • Interpreting non-verbal communication

  • Do’s and don’ts

  • Push/Pull styles and silence as a tactic

  • 60 common tactics and how to counter them

Day 7
The Negotiator’s Toolbox:

  • Planning an appropriate environment for the meeting

  • Opening discussion, priorities, information needs, and building trust

  • Using proposals –conditional and unconditional to move the meeting on

  • Closing the bargain: trading concessions, summaries, recording outcomes

  • Alternatives to negotiating outcomes to a dispute

Day 6
Fundamentals of Negotiation:

  • Building business relationships

  • The impact of disputes on partnerships

  • 4-phase structure: Preparation, Discussion, Proposing, Bargain & Close

  • Use of concessions: best alternative to a negotiated settlement (BATNeS)

  • Preparing the case, objectives (entry/exit points) and concessions

  • Common mistakes to avoid

Day 5
Dispute Resolution:

  • Avoiding disputes

  • Recognizing disputes when they arise

  • Contract clause to encourage negotiation

  • Third-party dispute resolution

  • Courts

  • Arbitration

  • Alternative methods – including mediation

  • Post review and analysis

Day 4
Contractual Documents and Payment Issues:

  • Letters of Intent and Award

  • Bonds

  • Progress Payments

  • Parent Company Guarantees

  • Use of commercial standard documents

  • How contracts end

  • Suspension and Termination

  • Types of damages

Day 3
Changes and Variations:

  • Changes to the contract

  • Scope variations

  • Use of variations clauses

  • Evaluating scope changes

  • Extensions of time

  • Disruption

  • Changes in sequence and timing

  • Controlling and managing change

Day 2
Main Contract Provisions and Associated Issues:

  • Scope of Work

  • Force majeure

  • How to deal in volatile market conditions

  • Delivery and acceptance

  • Termination and Suspension

  • Warranty

  • Selecting the appropriate law to govern the contract

  • Entire Agreement

Day 10
Putting it All Into Practice:
  • Leaders’ contribution of mission and self-belief in critical situations

  • Team allocation and orchestration of specialists

  • Mediation process

  • Negotiation case study – plan, bargain, review, analysis of results

  • The do’s and don’ts of negotiating

  • Success in dealing with assumptions

  • Murphy’s law - improving what we do

  • Action planning

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