course | Practical Negotiation Skills for Contract Management

How contracts are formed 
 

• The reasons for using contracts 
• Basic principles in contract formation
• Examples of formalities for contract formation
• Authority to sign a contract and the principles of agency
• Basic contractual structures 
• Use of different types of contracts for different business models

Main contract provisions and associated issues: managing risk
 

• Hierarchy of contract terms
• Warranty, Indemnity, and Insurance provisions 
• Distribution of risk and performance obligations
• Termination, suspension, and force majeure 
• Selecting the appropriate law to govern the contract 
• Collateral warranties and entire agreement 

Changes and Variations
 

• Changes to the contract 
• Transfer of rights: Assignment and novation 
• Variation to the scope of work and variations clauses
• Controlling and managing change
• Minimizing Claims and Disputes 
• Delay and disruption
   

Standardising Contractual Documents and Securitising Performance
 

• Use of standard form contractual documents 
• International standard form agreements
• Bonds, guarantees, and letters of assurance 
• Managing payment risk 
• Reservation of ownership 
• Remedies for default – rework, re-performance, damages, penalties, and performance

Fundamentals of Negotiation
 

• Negotiation defined
• Disputes and the need for resolution
• Place of negotiation in the contractual resolution process 
• The commercial impact of the breakdown of negotiations
• Best Alternative to a Negotiated Agreement (BATNA)
• The four-phase process of negotiation 

The Negotiator’s Toolbox
 

• Preparation 
• Information needs
• Drafting your proposal, which will open the discussion
• The negotiation discussion phase
• Bargain and Close
• Negotiating position setting

Negotiating Styles, Tactics, and Ploys
 

• Cultural & international issues 
• Red, Purple & Blue negotiators 
• Non-verbal communication and the interpretation of body language
• Make time your friend 
• Silence and ploys as tactics and how to respond effectively 

Personal Fitness and Dealing with Difficult Negotiations
 

• Interests, positions, and escalation
• Stakeholder power behind the interests in negotiation
• Negotiator as a Mediator 
• Team negotiations 
• Proposals and persuasion Putting it all into practice