In every organization, care is taken to manage risks, by seeking to eliminate those that can be removed, and reducing and managing the remainder. Part of this process involves developing robust contracts which apportion risk equitably and include a structure of indemnities with contractors, supported by a comprehensive insurance regime. In addition, it is important that contract personnel understand contractual risks and what insurance can (and cannot) do to remove the financial consequences of such risk; always remembering that insurance only mitigates the effect of risk, it does not make the risk itself go away.
At the end of this course, the participants will be able to:
A more in-depth understanding of the elements of a contract.
How to analyze complex contract documents, and understand the inter-relationship between clauses.
How to develop effective indemnity regimes.
Appropriate types and forms of indemnities in different contracts.
How to use indemnities to manage risks.
The limitations of indemnity clauses.
How to link indemnity and insurance arrangements.
What types of insurance are available in a contracting context.
How to develop insurance clauses.
The latest thinking in dispute resolution techniques.
Contracts, Tendering, Purchasing, Procurement, and Project Professionals
Contract Administration, Engineering, Operational and Maintenance Professionals
Risk, Claims, Financial, and Audit Professionals
Project Management Professionals
All others who are involved in the planning, evaluation, preparation, and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities
The need for contracts.
Identifying risk.
Risk mitigation or impact mitigation?
Title.
Incoterms.
Intellectual property.
Types and nature of contracts.
Definition of terminology i.e. Conditions of contract & terms of contract etc.
Different legal systems - how to look for common practices but understand the differences.
Why we use contracts.
Formation of a Contract.
Oral or written?
The key elements of a contrac:
Terms and Conditions of contract.
Liquidated damages/penalties.
Limits of liability.
Suspension and termination.
Acceptance and Certificates.
Guarantee/Warranty/Maintenance.
Agency issues.
The basic structure of a contract.
Incorporating documents by reference.
Standard Forms.
Incorporating tender documents.
Letters of Intent or Award.
Letters of Comfort or Awareness.
Side Letters.
Bank bonds and Guarantees.
Parent Company Guarantees.
Insurance:
The purpose of insurance.
Limits on the cover.
Duty to disclose information.
Meaning of “All Risks”.
Relationship with risk management.
Types of insurance used in contract clauses.
Workmen’s compensation/employers’ liability.
Third party/liability insurance.
Property damage.
Professional indemnity/errors and omissions.
Construction All Risks.
Motor and aviation.
Marine insurance.
Hull and machinery.
Protection and indemnity (“P&I Clubs”).
Pollution.
Goods in transit.
Business interruption.
Unfair calling cover (bonds and guarantees).
Export credit insurance.
Who arranges?
For whose benefit?
Extension to subcontractors (National Oilwell case).
Terms - involving contractors.
Other relevant insurances.
Insurance for projects.
Indemnities:
Meaning of indemnities.
Making indemnities work - irrespective of negligence or breach of duty (the Piper Alpha litigation).
Link with insurance.
Cross indemnities.
Personnel.
Property.
Value of covenant.
Issues with indemnities under the Civil Law system.
Third parties.
Liability in negligence - relationship with contract conditions
The program opens by exploring the key leadership skills and how to apply them in the organization. Using this initial analysis, the program explores managing yourself as a leader, leading a team, creating breakthroughs through innovative leadership, communicating effectively with others, and imparting leadership values to your team members. All attendees will return to their organizations better equipped to meet the challenges and demands of leadership.
This is a fast-paced, dynamic, and highly informative advanced leadership program. It seeks to develop and enhance your personal, team, and organizational leadership skills.
This seminar is designed to provide practicing or potential leaders with the knowledge and skills required by the role. This leadership programme enables your leaders to critically explore the key idea that the most important function of a leader is to help their people move through the stages of team development.
Alliances in business are a natural route for development – but not all contracting relationships can truly be seen as alliances. A good, trusting and open relationship is essential for a long-term and successful alliance – and this needs to be practiced by the negotiators involved. Negotiation is inevitably at the heart of every process to achieve what you want, whether in an agreement, bargaining for an item, or closing a deal. At the end of each negotiation, the goal is to seek a win/win outcome – an essential characteristic of long-lasting alliances. This course provides an essential framework for effective negotiation — which will be vital for building and exploiting an alliance - from building the relationship, critical thinking to prioritize goals
Health, Safety, and Environmental Management Systems are based on a proactive process for incidents prevention as well as reactive monitoring of performance. Risk assessment is required to be applied to all activities that impact on health & safety, production, asset, environment, and the Company reputation.
All businesses in the current environment need a competitive edge. This can be gained through innovative and exciting products and services, or effective and efficient world-class employees. Top performing organizations are passionate about their most valuable resource - their staff. To maintain their high standards a large proportion of their time and energy is spent on continuous professional development, not only of their employees but of their business. This course investigates the tried and trusted management processes, procedures, and methodology used by many blue-chip companies. They use the tools to develop high levels of performance from their staff. This in turn ensures the future and reputation of their companies through innovative development, service, and evaluation. This course offers participants practical solutions to work-related issues.
Enterprise Risk Management known as (ERM) has evolved considerably since the seventies. From simply 'buying' insurance, it has now grown in importance to become a prime function in many organizations as part of a bigger system known as Governance, Risk, and Compliance (GRC) which starts with corporate governance and ends with compliance. ERM is the function of studying the risks that may hinder a corporation's ability to achieve its goals and then deciding how to overcome those risks. Studies regarding risk management were done by different organizations, including ISO which issued ISO 31000 on risk management. However, the most accepted ERM system is the one designed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This system, which is the one covered in this course, teaches the steps needed to control risk. It starts with the evaluation of the internal environment and the setting of objectives which are, mainly, a result of the tone at the top of the organization, the directives from corporate governance as well as the vision, mission, and corporate strategies. Then, the course goes through the steps management needs to consider in order to identify and assess risk and decide on proper risk responses and controls. The course ends with how to monitor, communicate, and report risk. In addition, the course looks at risk in different organizational areas such as strategy, reporting, compliance, operations, financial and physical risk as well as risk in different industries.