Legal Aspects Of Procurement And Contract Management Course For Corporates

KEY FEATURES

Understand the critical area of legal aspects of procurement and contract management
Watch and learn with comprehensive online videos for each topic
Course materials created by experienced practitioners
Test yourself anytime, anywhere

ABOUT

Commercial law is a critical part of dealing with vendors and needs to be understood by the SCM professional. This course provides a foundation in business law as well as a detailed explanation of contract management practices that need to be employed to safeguard the interests of the company.

Who should take this course?

You are a business owner manufacturing products or providing services and you need a better understanding of how contract management impacts your business
You are from the sourcing and procurement function and deal with suppliers on a day-to-day basis
You are from the strategic sourcing function and are involved with building long-term relationships with supply partners
You are from one of the supply chain functions such as production, planning, logistics and want to build an understanding of the legal aspects related to suppliers
You are from an associate function such as quality or finance that deals with vendors or supply management

What will be covered?

Types of contracts
Basics of Business Law related to contracts
Contract clauses and terms
Purchase Contract management activities
Contract management life-cycle
Financial terms related to Purchase Contracts
Contract Compliance
Dispute resolution
Risk management

What is needed?

A standard Internet/data connection along with a computer/laptop/smartphone/tablet is enough to get you started!

Testing and completion

In addition to topic wise practice questions, this course offers a Course Completion Test (CCT). To qualify for the CCT, a learner has to complete 100% of the course. The CCT is conducted online to provide maximum flexibility to the learner. Based on the results of the CCT, a learner will be given a certificate of completion or a certificate of excellence.

CURRICULUM

UNIT 1: Types of Contracts

Types of Contracts

Incentive Contracts

Cost Plus Contracts

Other Types of Contracts

Conclusion

UNIT 2: Business Laws Specific to Contracts

Introduction to Business Laws

Elements of a Valid Contract

Free Consent and Lawful Consideration

Essentials of a Valid Contract - Free Consent

Classification of Contracts

Breach and Discharge of Contracts

UNIT 3: Additional Legal Aspects of Contracts

Interpretation of Clauses

Revocation of Contracts

Arbitration

Arbitration Act and Arbitral Proceedings

UNIT 4: Purchase Contracts

Introduction to Purchase Contracts

Key Issues Related to Contracts

Types of Contracts

Major Contracting Clauses

UNIT 5: Financial Terms in Contracting

Considerations for Long-term Contracts

Payment Terms and Payment Methods

Foreign Exchange Considerations

Conflicts in Contract

UNIT 6: Contract Management Life cycle

Contract Management Life Cycle

Pre-Award Activities

Pre-Award Activities II

Post-Award Activities

Conclusion

UNIT 7: Contract Management Governance

Contract Change Control

Contract Template

Contract Governance

Contract Risk Management and Compliance

Commercial Compliance

OUTCOMES

You will learn to identify the different types of contracts used in procurement
You will learn about the essential contract clauses in a purchase contract
You will be able to understand the different payment methods used in purchase contracts
You will be able to describe factoring, spot transaction, hedging and other methods applied in international transactions
You will be able to identify sources of conflicts that may arise in contracts
You will be able to list pre and post-award activities related to contracts
You will learn about contract monitoring

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