course | Contracts and Price Negotiation Masterclass
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PMCM-434 | Contracts and Price Negotiation Masterclass
Course Sector : Project & Contract Management
| Duration | Date from | Date to | Course Venue | Course fees | Book a course |
|---|---|---|---|---|---|
| 3 Days | 2025-04-21 | 2025-04-23 | Online | $1,550 | Book now |
| 3 Days | 2025-07-21 | 2025-07-23 | Dubai | $3,250 | Book now |
| 3 Days | 2025-12-21 | 2025-12-23 | Riyadh | $3,250 | Book now |
Course Introduction
Contracts are essential parts of the business, and an integral part of various transactions. It is, therefore, critical that business professionals understand the most common negotiating mistakes and most successful negotiation strategies for the contract clauses and contract price. This training course is designed to provide participants with the essential concepts, principles and strategies they need to know in order to effectively negotiate contracts and contract price. This course will allow participants to explore topics such as dispute resolution, BATNAS and WATNAS, Negotiation approaches, and opportunities in cost reduction.
Course objective
- Gain a comprehensive understanding of the concept of negotiation, the legal system and contract law.
- Understanding common contractual pitfalls in contracts
- Negotiate profitably the project contracts, with clear understanding of insurance provisions, liability and indemnity clauses
- Enhance ability to negotiate force majeure and insurance clauses
- Learn strategies and techniques in negotiating the contract price
- Grasp and apply dispute resolution methods to contract.
Course Outline | Day 01
- ct Law
- Mandatory elements of a legally enforceable contract
- Contract Law: Contract formation, terms, Interpretation of contract terms
- Contract Law: Remedies for breach of contract
- Assessing available remedies for breach of contract
- Rescission
- Compensatory damages
- Consequential and incidental damages
- Liquidated damages
- Specific performance
- Injunctive Relief
- Common pitfalls in contracts
Negotiation Process
- What is Negotiation?
- Why Negotiate?
- Pre-negotiation Process and it’s importance
- Underlying Tensions
- BATNAs and WATNAs
- The Expectations of Other Parties
Negotiation Approaches Overview
- Planning A Negotiation
- Adopting a Win-Win Approach
- Asking Questions and Listening
- Negotiating the Contract Terms – Finance Considerations, Progress Reporting and Payment
- Confidentiality
Course Outline | Day 02
Force Majeure Clauses
- Avoiding common Force Majeure pitfalls
- Protect yourself from abuse and misuse of this clause
- Mechanics of exercising Force Majeure rights
- Practical Exercise: Case studies
Insurance Provisions
- Overview of coverage types
- Understanding typical insurance exclusions
- Assessing the quality of your insurance carrier
- Evaluating deductibles and coverage limits
- Insurance subordination issues
- Effective claims management
Contract Management
- Operational issues
- Gas delivery procedures and coordination between suppliers, terminal operator, transporters and users
- Types of dispute resolution vehicles
- Importance of the dispute resolution clause
Course Outline | Day 03
Contract Claims & Dispute Resolutions
- Types and Assessment of Claims
- Tiered Dispute Resolution Mechanisms
- Formal Dispute Resolution
- Preventing costly litigation through effective use of ADR option
- Types of dispute resolution vehicles
- Assessing litigation vs. arbitration options
- Mediation considerations
- Considerations for selecting effective mediators and Arbitrators
- Selecting arbitration and mediation rules of procedure
- Drafting effective dispute resolution clause
- Practical Exercise: Mock arbitration exercise
Price Reduction and Negotiation
- Modern Methods in Cost and Productivity
- Opportunities for Cost Reduction
- When and how to negotiate the price
- Understanding the Methods for Evaluation of Price
BOOST’s Professional Attendance Certificate “BPAC”
BPAC is always given to the delegates after completing the training course,and depends on their attendance of the program at a rate of no less than 80%,besides their active participation and engagement during the program sessions.
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