Negotiating And Managing Commercial Contracts

Business firms are exposed to contracts in all areas of business — agreeing to terms while making partnership agreements with other business firm to execute a public-private partnership contract, purchasing raw material, machinery or technology from supplier, selling goods/services to the buyer, engaging contractor/sub-contractor to perform a contract, and even engaging contract workers through contractors. Knowing the principles of contracts, contract negotiation and management is not just a skill needed by lawyers, it illuminates for every manager or executive a crucial institution that they use all the time and generally take for granted. In the same vein effective contract negotiation and management is a crucial part of any business and the ability to negotiate and draft effective, readable, non-ambiguous contracts is a valuable skill for every manager and executive. Pitfalls in contract drafting, negotiations or management in-turn leads to contractual disputes and legal battles. This three-day training program, with new materials and updated case examples, is designed and customized to introduce the range of issues that arise when entering and enforcing contracts. The Program will provide an introduction to what a contract is and also provide practical understanding of contractual clauses. Then, participants will be exposed to several case study discussions to uncover ley issues surrounding contractual disputes resulting from poor contract negotiation and/or pitfalls in drafting a commercial contract. With the knowledge of what makes a contract and how can they go wrong, Professor will discuss ways and skills to draft and negotiate commercial contracts that are readable, enforceable and protect business firms interest. Finally, Professor will discuss keys for successful contract execution, management and take away points to avoid contractual disputes during performance. The program will centrally focus on public-private partnerships and tenders. The Program Instructor, Parul Gupta, has been teaching at MDI Gurgaon and has written and published extensively on contracts. Not only is Professor Gupta a leading academician and trainer on contract law, but she also utilizes a case-study approach to explaining the topic, which creates a unique, practical and enriching training experience.

Day 1: Legal Aspect of Drafting a Commercial Contract– Fundamentals of valid contract, possible issues, challenges and pitfalls in drafting a contract

Day 2: Contract Management & Negotiations -Limits to enforcing contracts, and issues excusing the performance of a contract, and Legal rationale and practical knowledge of contractual clause and specific skills needed for negotiating contractual terms and conditions

Day 3: Contractual Dispute Resolution- Arbitration, Conciliation and Mediation *Session plan will be shared later