Origin of Contractual Disputes
If a contract in law is simply an exchange of commercial promises why then are there so many expensive and bitter disputes? The answer is simple: the contracts are not negotiated and/or managed properly. One must remember that contracts are agreed in concept, but delivered in detail. This is why they can break down, as often is the case the devil is in the detail.
Remember, once you have entered into the contract (verbally and/or in writing) it is VERY hard to change the terms – thus get it right the FIRST time. Let The Risk Doctor help you do this.
Do your managers and staff read and understand what they are signing?
A major problem facing senior management with commercial contracts is the very real possibility of an employee exposing the organisation to potentially catastrophic litigation through day-to-day business operations and commercial contracts. This is irrespective whether they are from the buyer side or the seller side.
Who should attend contract management training?
Do your employees know the risk implications (finacial and legal among others) of what they do? Across the organisation, managers and staff are somehow involved in the negotiation, execution, implementation, management and close-out of contracts in varying degrees. Unfortunately, many would think that only persons who are involved with negotiating and signing are interested in managing contracts.
Frequently Contract Management participants come from the following backgrounds:
- 1. Strategic, Executive and Board Level: including directors and C-level executives (CEO, CFO, CIO, COO etc).
- 2. Operations Level which comprose contract managers and contract administrators.
- 3. Dispute resolution personnel (which include the above as well as external parties, such as lawyers, mediators and arbitrators).
The ‘investment’ in training
Professor Peter Drucker, the well-known management theorist said it all when he said ‘You think that training is expensive, try ignorance’.
Details of courses offered
The Risk Doctor offers a number of courses, all of which are in the Intermediate level:
Course No. 1: Negotiating for Better Management of Commercial Contracts
Course No. 2: Contract Law for Better Management of Commercial Contracts and Projects
Course No. 3: Finance for Better Management of Commercial Contracts and Projects
Course No. 4: Risk Mitigation for Better Management of Commercial Contracts and Projects – Mitigation by using the contract management lifecycle
Course No. 5: Systems and Processes for Better Management of Commercial Contracts and Projects
Course No. 6: Strategic Contract Risk Management*
Course No. 7: Avoiding the Seven Deadly Contract Risks (TM)
* This is our most popular course. This is comprises of courses 1 to 5.
The Risk Doctor can also customise a course for your organisation’s needs.