Business managers have to occasionally negotiate commercial contracts on behalf of their organizations, be it with suppliers, resellers or customers. Whilst education and experience would lead these managers to seek the best terms for their companies, they must be aware of certain key aspects of contract negotiation from a legal standpoint.
Certainly, in-house counsel or external law firms will provide their views of the contract documents. However, it must be noted that these lawyers cannot be present in every contract negotiation meeting. Not having a basic understanding of the legalities of contracts can undermine the commercial manager’s negotiating position.
- Lectures on the fundamentals of contract law
- Concepts will include:
- Permissible and non-permissible clauses
- The constitution of force majeure
- Tort inclusions in contracts
- Variations beyond standard contract templates
- Sample templates such as one’s contracts with suppliers, distributors and customers will be examined
- Participants can bring a contract document for discussion with the trainer and fellow participants