Basic terms of Business Contracts

Course Title: Basic terms of Business Contracts: 1 Day

Sample Course Content

Overview

This one-day programme has been developed to provide the participants with an introduction to the formation of a business contract and the key elements that are normally found within business contracts.                          

Training Objectives

Development of an understanding of the key contractual elements found in business contracts. The course is designed to be applicable to all business sectors and also addresses some of the specific elements of export contracts. On completion of the course, delegates should have a greater degree of confidence in dealing with and negotiating business contracts and be more aware of potential hazards and dangers that may be hidden within a business contract. 

Target Audience

All staff who need to be commercially aware of the essential elements of a business contract in order to provide the best commercial result for the company when tendering or performing contracts.

Format

This comprehensive one day course is based on formal presentation material from the expert trainer and practical case examples / studies. Time will be set aside for participants to raise issues of particular interest to them.

Special Features

The course is run in a workshop format to facilitate participants raising any issues of particular concern to them.

The Expert Trainer

Mike is a qualified accountant and commercial specialist and provides commercial consultancy services to clients in the UK aerospace, engineering and defence industries.

He has a broad experience of practical commercial interaction with gained over a thirty year period of working within the UK aerospace, engineering and defence industry and has held a number of senior commercial positions in major companies within the UK aerospace and defence industry.

Course Content

Day 1

Pre-Contract Activity :

a) Confidentiality Agreements, Memorandums of Understanding, Heads of Agreement, 

b) Tendering and making an offer (binding or non-binding)

c) Letters of Intent 

Basic Contract Formation

a) Identifying the legal status of the contracting Parties

b) Offer and Acceptance - "Battle of the Forms"

c) Consideration

d) Establishing the documents constituting the contract and the scope of the contract supplies/services

e) Documents not normally intended to be contractually binding - sales literature etc

f) Instructions to Proceed.

Standard terms and Conditions of Sale and Purchase for goods and services.

a) Advantages & Disadvantages of using standard conditions of Sale or Purchase.

Contract Conditions

Contract Functions: Establishing the legal framework, risk allocation, planning & management:

a) Payment & Payment Security

b) Warranties, Indemnities and Liability Caps

c) Direct & Indirect Damages, Liquidated Damages and Force majeure

d) Acceptance & Rejection

e) Termination for default & convenience

f) Intellectual Property Rights - Available protection under UK law

g) General clauses

h) Applicable Law 

i) Insurances

j) International Contracts

Express and Implied Terms

a) Examples and their impact of B2B contracts. Implied by statute or inserted by the courts

b) Sale of Goods Act & Supply of Goods & Services Act.

c) Unfair Contract Terms

Contract Performance and Administration

a) Examples of good practice

Please get in touch with us for more details with respect to course pricing and availability.