C O N T R A C T M A N A G E M E N T: Contract is another name for business relationship. Understandably, companies and government undertakings get into a large number of contractual relationships with numerous companies and suppliers. A company gets into a contractual relationship with the state to get a project, licence or business. Companies and government undertakings get into contractual relationships with raw material and component suppliers and service providers. Companies get into relationships with distributors, wholesalers, and retailers for selling their products and services. Liberalization and globalization of the Indian economy has brought about significant changes in business relations. With liberalization, business entities have a choice regarding who to contract with and what to contract for. As the economy has become competitive, there has been much outsourcing of activities. A large segment of the economy has been opened up for private participation particularly in infrastructure development including highways, electricity, telecommunications, airports, and railways. These changes have led to a proliferation in contractual relationships. As a result, managing contracts for supply of goods and services has become a dominant activity for managers in both public and private sectors. Contract failures lead to inefficient performance, financial losses, and disruption of work; initiation of arbitration and litigation; loss of reputation; and other direct and consequential losses. Thus, it has become important for executives to understand the rights, responsibilities, and obligations arising from contracts.
About the Faculty:
A Sr. HR & Legal Consultant with 32 years of Industrial versatile experience in the fields of HR, IR and Legal.
Enrolled as an Advocate at the Bar Council of India at Hyderabad. Worked for HR and Legal Departments of major groups like UB, ITC, TATA’s, Pitti Laminations and Nagarjuna Groups.
Has rich expertise and experience in both HR, IR and Legal. He was trained at “ SUMEDHAS” the only HR process Labs in Asia. He is also well versed with International Accreditions like SA 8000, Deming Prize, IQRS, TQM etc. Post Graduate in Law from Andhra University.
Program Coverage:
Program Date: 17th September 2016 -- Saturday
Duration: 1 day – 9:30 am to 5:30 pm
Methodology: Interactive, Case Studies and Exercises.
Target Audience: Purchase Managers, Supply Chain Managers, Legal Professionals, Consultants and
Advisors, Sourcing & Procurement Managers, Vendor Interfacing Executives,
Venue: Hotel Aditya Hometel, Ameerpet - Hyderabad.
For Registrations, please call Ms. Sowjanya or Mr. Sanjay Varma
TEL: 040 – 65140345 to 49 OR 0772 999 5538 / 772 999 5539 OR e-mail: events01@learningevents.in
T O P I C C O N T E N T S
P R E L U N C H
Introduction What is a Contract?
Difference between an Agreement and a Contract?
What makes a Contract enforceable?
Types of Contracts
Nature and Scope of Indian Contract Act, 1872
Drafting a Contract
Elements of Contract Drafting
Important points and some practical tips for drafting
a Contract
Contract Elements in detail
Essential Clauses
Most common mistakes in Contract drafting
P O S T L U N C H
Putting a Contract
together
Organizing a Contract and its provisions
The Drafting process
Drafting the first draft
How to review and comment on a Contract
Amendments, Consents and Waivers
Performing the
Contract
Remedies for breach of Contract
Consequential Loss
Liquidated Damages, “Penalties” and Incentives
Legal Issues & Precautions in Electronic Contracts &
Information Technology Act