Course Overview

Contract is another name for business relationship. Understandably, companies and government undertakings get into a large number of contractual relationships with numerous companies and suppliers. A company gets into a contractual relationship with the state to get a project, licence or business. Companies and government undertakings get into contractual relationships with raw material and component suppliers and service providers. Companies get into relationships with distributors, wholesalers, and retailers for selling their products and services.

Liberalization and globalization of the Indian economy has brought about significant changes in business relations. With liberalization, business entities have a choice regarding who to contract with and what to contract for. As the economy has become competitive, there has been much outsourcing of activities. A large segment of the economy has been opened up for private participation particularly in infrastructure development including highways, electricity, telecommunications, airports, and railways. These changes have led to a proliferation in contractual relationships. As a result, managing contracts for supply of goods and services has become a dominant activity for managers in both public and private sectors.

Contract failures lead to inefficient performance, financial losses, and disruption of work; initiation of arbitration and litigation; loss of reputation; and other direct and consequential losses. Thus, it has become important for executives to understand the rights, responsibilities, and obligations arising from contracts.

Session Plan

Contracts – Concepts & Legal Issues

• • Statutory provisions governing business transactions
• • Every business transaction is a ‘Contract’
• • Elements of a ‘Contract’ – analysis and mapping with business contracts
• • Discharge of contract and Remedies for breach
• • Contract clauses – Specific & Boilerplate clauses
• • Contract documentation
• • E Contract
• • Cross Border business contracts – Issues & Challenges
• • Takeaways

• o issues in Consultancy contract
• o standardization of Contract template

Flaws in Contract

• • Arbitration Clauses
• • Extension of time
• • Liquidated damages
• • Force Majeure

Dispute Resolution

• • Arbitration – ‘the child of commerce’
• • Recapitulating certain fundamentals
• • Arbitrational proceedings procedure
• • Expert & Arbitrator – difference
• • Proposed Arbitration and Conciliation Bill, 2015

Case studies on Contract Management

• 1. Government Contracts
• 2. Liquidated damages & Security Deposit
• 3. Bank Guarantees
• 4. Jurisdiction of Court of Appeal
• 5. Arbitrations held outside India Applicability of Part I of the Arbitration and Conciliation Act 1996 [Reconsideration by the Supreme Court of its earlier decisions among many others on foreign awards]
• 6. Arbitration Clause in Agreement
• 7. Overview of other significant cases

• a) Enhancement in Bid of original offer
• b) Invitation to Tender
• c) Valid Agreement
• d) Fraud in Arbitration Clause
• e) Novation of contract
• f) Risk Purchase Tender
• g) Invocation of Bank Guarantee

Objectives

Most of the contracts are drafted with standard pre-given terms. Even when contracts are drafted afresh, clauses on different aspects of the contract are standard, taken from different sources. Standardization has become widespread as it hugely reduces transaction costs. In this context, for successfully negotiating and implementing contracts, managers need to be well versed with the significance of the terms in contract documents. The programme will cover the following themes:

• Formation of contract, including offer, acceptance, and consideration

• Standard bid documents and award of tenders

• Condition, warranty, merchantability and quality of goods

• Transportation, delivery, and Incoterms

• Letter of credit, bank guarantee, and performance guarantee

• Impossibility of performance (force majeure clause)
• Breach, termination, damages and liquidated
damages

• Arbitration and dispute resolution

• Significance and application of exemption clauses

• Contracts and taxation

Drafting the terms of a contract or designing and amending General Conditions of Contract (GCC) is a specialized function and must be done by law persons. Seemingly insignificant modifications in the terms of a contract can have severe implications. The programme is not intended to, nor is it possible, to make law specialists out of managers to undertake amending and drafting terms of a contract. The objective of the programme is to understand the significance of the existing terms of contracts.

Timing of the Course

On 21st July 2016 registration is between 9.00-9.30 am and the training begins at 9.30 am finishing at 5.30 pm for Both the days.

Registration Fees

One participant Rs.7,000/- Plus Service Tax. which includes lunch, tea, course material etc.
For three or more participant from the same organization Rs.6,500/- Plus Service Tax per participant.

Registration Procedure

1. Please send confirmation with your Full name ,mobile number,email-id through mail before 18th July 2016.
2. The seats will be reserved after receiving your mail and due mail confirmation will be sent to your mail ID.
3. Payment by cheque/DD in advance in favour of “Synapsetech eServices Pvt Ltd”. Cheque/Online Transaction details to be sent through email to our Program Cordinator Ms Mohini Tyagi
Seats are confirmed only after receipt of payment.
Please Send the Cheques to our office address D-321 Sector 10 Noida UP 201301
4. Early registration will be appreciated