Advanced Development and Legal Creativity for Legal Persons and Members of Legal Administration
Select Other "city & date"
Advanced Development and Legal Creativity for Legal Persons and Members of Legal Administration Course
Introduction:
In every commercial contract, the parties have their rights and obligations. For each party, there are both risks and benefits which need to be understood and balanced. To do so requires a sound knowledge of contract law, the language and the precise wording of the contract, and the commercial implementation of it as well as understanding how to minimize the risk of disputes whilst knowing how to resolve them if they arise. In the international contracting arena, there are additional risks and pitfalls of contracting in other legal systems. As commerce becomes ever more global, the proportion of contracts that have an international element is increasing, making an understanding of the problems of international business law even more vital. This program encourages you to ask yourself - “Do you have the necessary knowledge of the implementation of international business law and practice, as it applies to your contracts, to understand those contracts you are involved with, and are you able to recognize and deal with the issues before they arise?”
Course Objectives:
- Anyone who handles international contracting or other international business, or who may do so in the future
- Commercial legal contracts and projects staff and those involved in making business decisions on international issues
- The program will suit individuals, from all industries, who are keen to learn the best techniques and avoid costly contractual errors and omissions
- The program will be of benefit to those new to this area of business, or experienced professionals looking for a refresher course and new ideas
- Critical issues that arise from day to day in contracting. You will learn the importance of risk analysis, and the legal consequences of both your words and actions and gain an understanding of the laws and practices that regulate the formation, effectiveness, implementation, and enforcement of commercial contracts. Also, attention will be paid to new alternative dispute resolution methods that can be set up to reduce the potential for enforcement through litigation.
Who Should Attend?
- Anyone who handles international contracting or other international business, or who may do so in the future
- Commercial legal contracts and projects staff and those involved in making business decisions on international issues
- The program will suit individuals, from all industries, who are keen to learn the best techniques and avoid costly contractual errors and omissions
- The program will be of benefit to those new to this area of business, or experienced professionals looking for a refresher course and new ideas
Course Outlines:
Formation, structure, and types of contracts
- Why do we need contracts
- The reasons for using contracts
- The use of written or verbal contracts
- Basic principles in contract formation and contract effectiveness
- The common ways contracts are formed around the world
- Examples of formalities for contract formation
- The different problems that can arise in different jurisdictions
- Formation by conduct and the associated contractual risk
- International Tendering - special issues
- Incorporating other contract documents
- Form of Agreement
- Different business models use different types of contract
- Different types of legal system
- Law to interpret the contract
- Legal system to handle disputes
- Conflicts between legal systems
- Authority to sign a contract - different rules in different countries and practical ways to solve the problem
- Basic contractual structures for use in an international context
- Proper law of the contract
Pre-contractual documents, collateral documents, and standard contract forms
- Letters of Intent and Award, Instructions to Proceed, etc
- Bonds and guarantees
- Tender/bid bond
- Advance payment,
- Performance bond
- Retention/withholding bond
- Parent Company Guarantees
- Collateral warranties
- Use in non-Gulf jurisdictions
- Use of commercial standard documents
- Common international forms in different businesses
- Advantages and problems
- Drafting Special Conditions
Main contract clauses and issues
- Rights & obligations under the contract
- Transfer of title and risk - use of INCOTERMS in international trade
- Impact of national insolvency laws in an international context
- The need for Insurance and indemnities
- Do indemnities work in Civil Law jurisdictions?
- Delays and suspensions
- Time of the essence - what does this phrase mean?
- Fitness for purpose - what does this phrase mean?
- Reasonable standards - is everyone "reasonable"?
- Liquidated damages - buyers' control or seller’s limitation clause?
- Consequential losses - different meanings in different countries
- Limits of liability - why do we have these and are they effective?
- Basic principles of frustration
- Force majeure clauses - how to avoid the frustration trap
- Delivery and acceptance
- Remedies for failure to perform
- Correct service
- Practical problems
- The frustration of a contract
- Rights to terminate
- Warranty and guarantee periods - latent defects
- Notices
- Entire Agreement
International business law - some issues beyond contracts
- Investment in foreign countries
- Right to own property
- “Need for foreign partners
- Bilateral Investment Treaties
- ICSID Arbitration - challenges from South America
- "International Law"
- Moves to standardize contracts
