This training workshop considers the “Financials” in contracts – particularly pricing and underpinning issues around costs. We will look at pricing models where suppliers base their prices on direct and indirect costs and others where market-based issues drive the price. Many contracts require either or both parties to secure their performance with a bond or guarantee. When things go wrong one side may make a financial claim or seek a time extension.
- Cost & Price analysis
- Bonds, Guarantees and warranties
- Managing payments
- Managing claims
This training workshop is suitable for:
- Contract Engineers
- Contract Analysts
- Commercial advisers
- Inhouse legal advisers
- Company Secretaries
- Procurement team members
- General managers
- Executives tasked with managing contracts.
- Contract Administrators
- Anyone who wishes to have a good understanding and develop the ability to apply the terms and conditions of a contract.
Upon completion of this training workshop, you will be able to:
- Differentiate between prices and costs and discuss the different approaches to constructing a price.
- Explore the merits of security to support a contract, including performance bonds and advance payment guarantees.
- The management of claims for increased payment or extra time to complete the work is a major element of contract management.