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Fundamentals of Risks Associated with Contracts Course

By: Tom Associates Training  

Lagos State, Nigeria

13 - 15 May, 2019  3 days

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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 and 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. May 13 - 15 May, 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
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