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Demand & Supply Chain Management Evolution


     
Course Detail

Contracting: What all the T's & C's Mean


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Education Center: ISM - Institute for Supply Management
Date: Please check (on your top-right) for a new edition
City: Houston, TX



Duration: 2 days
 

When it comes to contracting, understanding terms and conditions is essential. Without this key skill, supply management professionals could be placing their organizations in jeopardy. This popular and essential seminar thoroughly addresses many of the standard terms found in most contracts. It also examines the impact of electronic purchasing. Discussions delve into key terminology, clauses that can be used in drawing up agreements, and examples of contract language. The seminar even offers a hands-on approach because participants are encouraged to bring their own contracts, clauses, and/or purchase orders for review.

Who should attend

New and experienced contracting, purchasing and supply management professionals who desire to understand basic contract premises and law. Also, those professionals seeking a detailed introduction to contract terms and conditions. Suggested Prerequisite: Legal Aspects of Supply Management: The Basics You Need to Succeed.

You will earn 14 CEHs for this seminar

You will learn

  • The elements of a contract
  • The use of common contract clauses (terms and conditions) for goods and services
  • When different clauses should and should not be used
  • How to draft better contract clauses
  • The impact of electronic purchasing on contracting.

Course Outline

  1. Overview of laws that impact contracts; Review of basic contract law concepts
  2. Contract formation: How to construct legally binding agreements
  3. Interpretation of contract language; Legal wording that is and is not necessary in agreements
  4. Purchase orders, blanket orders, request for proposals, requests for quotation, letters of intent and contracts
  5. Contracts and electronic purchasing; How widespread use of high-tech forms of communication impacts contracting
  6. Detailed discussion of a variety of contract clauses (terms and conditions) for goods and services
  7. Drafting contract terms and conditions from both the buyer's and seller's perspectives

For additional courses in ISM's Legal and Contracting series, see also Legal Foundations of Supply Management: The Basics You Need to Succeed, Contracting for Purchasing and Supply Management: Beyond the Basics, Legal Considerations of Software Licensing and Other Technology-Related Agreements, and Performance-Based Statements of Work (SOWs): Maximize Supplier Performance.

 



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