|Duration : 2 days||Technical : 10||Leadership : 2||Strategic : 2||PDU: 14|
This course is based on the Contracts Act of Malaysia 1950. The focus is on exposing participants to the Act so that they are able to understand their role in drafting, reviewing and apportioning risk response measures in contracts.
They will learn how to apply a logical, systematic and comprehensive approach to reading, managing and implementing a contract so that the team is able to manage the vendors and to satisfy the legal obligations detailed in the contract.
UNDERSTANDING THE CONTRACT
- Factors that influence the selection of a Contract
- Designing Tender Documents
- Co-relation between the Procurement Process and Contract strategy
- Mapping out the supply chain to strategize and identify risk
- Creating the Statement of Work
- Make or Buy analysis for creating contract strategies
- Contracts: Common Terminologies used in the industry Extrinsic or Collateral contracts
- Privity of Contract
- Conditions for Contract Formation
- Differences between
- Estimates and Quotations
- Offer and Invitation to Treat
- Unilateral offer and revocation of offer
- What is a Proposal?
- Conditions for Acceptance
- Acceptance subject to Contract
- Voidable Contracts
- Void Contracts
- Suspension and Termination of Contracts
- Conditions for suspension of work
- Meaning of Breach
- Meaning of Repudiation
- Meaning of Frustration
- Meaning of Rescission?
- Difference between Voidable and Breach of Contract
- Their role in Contract Management
- Pre-requisites for contract formation
- The legal obligations and responsibilities of each party
- The Battle of Forms (which document takes precedence)
- Third party obligations (only in construction contracts)
- The allocation of risk between the contracting parties
- The consequences of non-compliance to the contract
- The difference between Void and Voidable Contracts
- How contracts can come to an end (the conditions for termination)
This course is tailored for Project Managers, Project Leaders, Project Controllers, Contract Managers, Construction Managers, Offshore Managers, Contract Administrators, Procurement department personnel & Sub-Contract Department.