Nigerian Seminars and Trainings

Search all upcoming seminars, conferences, short management courses and training in Nigeria and around the World

business logo

Fundamentals of Risks Associated with Contracts Course

By: Tom Associates Training  

Lagos State, Nigeria

20 - 22 Feb, 2019  3 days

Follow Event

  

NGN 125,000

Contract risks in business relationships are any uncertainties about the future that threaten the ability to accomplish a contract's mission. They can emanate from both parties or even from a third party. So, in the management of contracts note should be taken that risks are shifting from a compliance “management” to a “governance” perspective. It is always important to ensure that contract conditions and terms are met.

Course Contents

DAY ONE

  • Components of a Valid Contract
    • Underlying economics of the contract
    • Competent parties
    • Legal purpose
    • Offer and acceptance
    • Consideration
  • Contract risks and why they arise
    • A contract's lifecycle
    • Common underlying causes of contracting risks
    • Identify the risks
    • Analyse the risks
    • Evaluate and prioritise risks
  • Types of contract risk
    • Cost overruns
    • Quality failures
    • Bad planning
    • Ill-informed buying
    • Deliberate contract manipulation
    • Misinformation or miscommunication
  • Establish the context
    • Balancing risks and opportunities in a commercial contract
    • Costly or difficult commitments
    • Acting in the best interest of own principal
    • Ascertaining the business opportunities behind a contractual relationship.
    • choice of the right contractor and/or subcontractors
    • Prudent control strategies to mitigate contract risks
  • Treat the risks
    • Specific language of the agreement - the clauses
    • Legal knowledge
    • Equitable compensation against embedded risk
    • Independent reviews

DAY TWO

  • Assessment of a Contract's Potential Risks
    • Low, moderate, high, extreme
    • How likely
    • How frequently
    • Possible effects
  • Transfer of associated risk exposures
    • Indemnification
    • Limitation of liability
    • Waiver
  • Insurance and risk financing - size and scope:
    • General commercial
    • Professional
    • Environmental
    • Construction
    • Fidelity
  • Financial Limitations of Aggravated Risks:
    • Death
    • Bodily injury
    • Breach of security
    • Breach of confidentiality
    • Infringement of intellectual property
    • Data loss.

DAY THREE

  • Making sure the contract delivers
    • Constant and quality information
    • Regularly reviewing your contract
    • Management of your suppliers
  • Risk Management in key areas
    • Prevention of financial loss
    • Disaster recovery
    • Business continuity
    • Corporate crisis
    • Health and Safety
    • The Environment
  • Risk Sharing
    • Subcontracting
    • Outsourcing
  • Contract Review Checklist
  • Corporate Policy for contracts Risk Management
5/7 Alade Lawal Street, Opposite Divisional Police Station, Off Ikorodu Road, Anthony, Lagos. Feb 20 - 22 Feb, 2019

Registration: 08:30:am - 09:00:am

Class Session: 09:00:am - 04:00:am

NGN 125,000.00(VAT Inclusive)
(Convert Currency)

Mr Abiodun Toki 08033019120

Discount of 5% to 3-4 participants from same organization. Discount of 10% to 5 or more participants from same organization
NST PPC Advert
Related Courses
Protocol, Public Relations and Events Management Course Protocol, Public Relations and Events Management Course

5 days, 14 - 18 Oct, 2019 

2019-10-14 12:10:00
Lagos State, Nigeria

Tom Associates Training

Objectives of the Course Arrange and provide protocol services including logistics requirements. Organise travel preparations and necessary bookings Organise events and meetings Plan, arrange, ...

Mastering Tax Administration Course Mastering Tax Administration Course
On going

4 days, 18 - 21 Jun, 2019 

2019-06-18 12:06:00
Lagos State, Nigeria

Tom Associates Training

In recognition of the difficulty accounting officers often encounter when dealing with and preparing tax computations and returns, this course has been specially designed to assist candidates to ...

Intermediate Skills for Effective Office Administration Course Intermediate Skills for Effective Office Administration Course

5 days, 18 - 22 Nov, 2019 

2019-11-18 12:11:00
Lagos State, Nigeria

Tom Associates Training

An effective administrator is an asset to any organization as the link between various departments who ensures the smooth flow of information from one part to the other. Thus without ...

Strategic Managerial Accounting:Cost Behavoiur, System and Analysis Course Strategic Managerial Accounting:Cost Behavoiur, System and Analysis Course

4 days, 27 - 30 Aug, 2019 

2019-08-27 12:08:00
Lagos State, Nigeria

Tom Associates Training

This course presents how Strategic Managerial Accounting primarily links the goals of the organization with its analysis of cost accounting as well as its management information systems. But beyond ...