A Project Management Institute, Inc. (PMI)®Registered Training Course
Commercial and Business Contracts
A Practical Guide
Course Overview
This GLOMACS Commercial and Business Contracts training course will provide participants a comprehensive understanding of procedures and practice related to the risks inherent in the formation and management of contracts. Through analysis of real life examples, this GLOMACS Contract Management training course demonstrates how to manage contract risk effectively and to ensure contract negotiations and performance occurs quickly and efficiently. Contracts are valuable and useful tools for companies to maximise value for businesses and minimise risk of loss or things going wrong. Businesses cannot continue to focus on pricing and key commercial terms alone.
Contracts are vitally important for any business. Understanding and managing contract risk is critical for companies and senior employees. The business and competitive advantages of managing contracts effectively produces significant benefits and a failure to fully understand risk related items in a contract can result in lost opportunities and costly disputes.
The highlights of this GLOMACS training course are:
- Creation of contracts including legal effectiveness and structure
- Key contract clauses focusing on payment and non-payment remedies
- Securing performance of a party’s obligations in the contract
- Liability for breach of contract
- Dispute resolution and important considerations
Training Outline
DAY 1: How Contracts are Created
- Quantifying Risks
- The Benefits of Understanding Contracts
- The Pitfalls of Getting It Wrong
- Controlling the Contract Process
- Understanding the Deal
- Controlling the Negotiation
- Contract Formation
- Offer and Acceptance
- Battle of the Forms
- Consideration and Intention
- Does a Contract have to be written?
- Pre-contractual Issues and Documents
- Due Diligence, Permits, and Financial Stability
- When are you committed?
DAY 2: Controlling the Contracting Process
- Auctions, Bids and Tenders
- Invitations to Tender and Treat
- Heads of Terms and Letters of Intent
- Bonds and Guarantees
- Standby Letters of Credit
- Form of Agreement
- Contractual Structures
- Incorporating Standard Terms of Business
- Informal Contracts
- Letters of Comfort
- Subcontracts and Warranties
DAY 3: Key Contract Clauses
- Pre-contracts and Post Contract “qualification phrases”
- Subject to Contract
- Without Prejudice
- Subject to Client Comment
- Securing Payment
- Payment Obligations
- Non Payment Remedies
- Letters of Credit
- Guarantees
- Delivery, Ownership and Risk
- Time and Place of Delivery
- Late and Failed Delivery
- Damage in Transit
- Ownership and Acceptance
- Transfer of Title and Risk
- Retention of Title
- Time of the Essence
- Liquidated Damages
DAY 4: When Things Go Wrong
- Contract Liability
- Managing Liability
- Limits of Liability
- Damages
- Insurance and Indemnities
- Product Liability
- How a Claim is Brought in Contract
- How a Claim is Brought in Negligence
- Practical Risks
- Frustration of a Contract
- Force Majeure
- Notices and Service
- Entire Agreement & Waiver
- Interpretation and Signing
- Authority to Sign a Contract
- Power of Attorney
- When do Contracts End?
- Termination / Discharge
- Transfer
- Variation
- Mistake
DAY 5: Disputes and Compliance
- Choice of Law
- Choice of Dispute Resolution
- Negotiated Settlement
- Litigation
- Arbitration
- Mediation, Adjudication, and Experts
- Settlement Issues
- Enforcement of Judgements and Awards
- Jurisdiction
- The Importance of Business Integrity
- Bribery
- Corruption
- Money Laundering
- Competition Law
Certificates
- On successful completion of this training course, GLOMACS Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates
Accreditation
GLOMACS is proud to be an Authorized Training Partner (ATP No. 2759) with PMI®. As an ATP, GLOMACS is authorized to issue applicable Professional Development Units (PDUs) and Educational Contact Hours to participants of any of its PMI® approved training courses for PMI® Certification and Re-Certification.
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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