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Contract Negotiation Training Course » CML13

Contract Negotiation Training Course

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DateFormatDurationFees
29 Apr - 03 May, 2024Live Online5 Days$2050Register
05 Aug - 09 Aug, 2024Live Online5 Days$2050Register
01 Dec - 12 Dec, 2024Live Online10 Days$4095Register
DateVenueDurationFees
20 May - 24 May, 2024Mauritius5 Days$4495Register
19 Aug - 23 Aug, 2024Dar Es Salam5 Days$4345Register
17 Nov - 28 Nov, 2024Riyadh10 Days$8225Register

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Course Overview

Commercial success is built on effective contract negotiation. Contract negotiation is equally vital for the support team as it is for the lead negotiator. Professional contract negotiation allows delegates to maintain positive connections with company stakeholders and their advisors while successfully negotiating contracts, business negotiations, and disputes.

Why is contract negotiation essential? A comprehensive and well-researched contract negotiation enables the organization to gain a clear picture of each side’s goals, priorities, and points of view. It becomes possible to get to a place where the goals and objectives of both organizations/parties can be met in a way that everyone is happy with and agrees on. Effective contract negotiation allows the organization to build long-term relationships with other people that help them grow and work together more.

How can organizations negotiate efficiently? Businesses now have a centralised space for safe, open, and rapid contract negotiations thanks to cutting-edge contract automation technologies. Negotiating a contract may be difficult, but some tactics and procedures can benefit both sides. Combining tech-driven solutions with contract negotiation tactics might help businesses strike better bargains or attain positive results. One must arrive at the bargaining table with an understanding of the other side’s position, objectives, and preferences if they are to have any chance of swaying the other side. Doing thorough research on the other side allows you to gauge their existing stance, priorities, and areas of flexibility.

The Contract Negotiation Certification Course from Zoe Talent Solutions includes a deep review of bargaining tactics as well as a variety of effective negotiating abilities and styles. The course aims to add much value to the business process. The course addresses how to settle a dispute that may develop during the contract’s operation. Participants will be able to put their abilities to testing and using interactive approaches such as case studies, seminars, practical exercises, and feedback from the training consultant. Commercial success hinges on effective contract negotiation, and thus, the course will equip the participants with the necessary theoretical and practical knowledge that will contribute to business success.

Course Objectives

The Contract Negotiation Course from Zoe Talent Solutions revolves around the following objectives:

  • To highlight the importance of conducting research and planning before beginning a negotiation
  • To learn different types of common negotiation strategies being used in the business landscape
  • To gain knowledge of the different ways to negotiate
  • To work on and develop participant’s negotiating styles
  • To find, manage, and turn stakeholder differences into a business advantage
  • To understand the procedures of contract creation
  • To demonstrate how contract provisions can be used to reduce the risk of a disagreement
  • To diagnose the long-term effects of a disagreement on relationships
  • To describe how tactics are used to overcome conflict causes
  • To improve understanding of legal concerns in contracts and learn new negotiation techniques

Training Methodology

The following training approaches will be used in this Contract Negotiation Course:

  • Expert lectures and interactive sessions
  • Problem-solving sessions
  • Training strategies
  • High-level participant discussions and group interaction
  • Delegated group activities
  • Case studies, business examples, practical exercises

The ‘Do-Review-Learn-Apply’ paradigm is used in this programme, as it is in all our well-regarded courses.

Organisational Benefits

This training course from Zoe Talent Solutions will benefit an organization in the following ways:

  • Improved communication between sellers and buyers as effective negotiation helps to improve relationships by keeping lines of communication open
  • Trained contract negotiators will be able to achieve a contract that is win-win for both sides, meaning that there is little risk and maximum gain for the organization
  • Certified contract negotiators will establish long-term relationships and maintain fruitful long-term partnerships with other entities for maximising both individual and collective success
  • Avoiding future conflicts caused by hidden motivations, requirements, or goals helps the organization save its resources
  • Attempting to reach a mutually beneficial agreement early on increases the possibility that both sides will walk away from the discussion having gained something of value

Personal Benefits

This training course from Zoe Talent Solutions will benefit a participant in the following ways:

  • Participants will gain the essential skill to communicate with people and express themselves clearly in negotiation
  • Participants will gain marketable skills in creating and negotiating lucrative business contracts, setting them apart from their contemporaries
  • Participants will better grasp the nuances of the technical and commercial issues that arise late in the contracting process
  • Participants who take this course will benefit professionally since they will learn to develop and negotiate contracts that are more favourable to them

Who Should Attend?

This training course will benefit all levels of people in contract and project management, purchasing, supply, and procurement:

  • Personnel in the Contracts and Contracting Unit
  • Professionals in charge of projects
  • Personnel in Procurement and Purchasing
  • Anyone active in risk management
  • Contract Managers, Commercial Managers, Finance Managers, Business Development Managers, Sales Support Staff, Purchasing and Procurement Managers
  • Legal Professionals

Course Outline

The course will cover the following modules:

Module 1: Formation of Contracts

  • Advantages of using contracts
  • Fundamentals of contract formation
  • Formalities for contract formation examples
  • Power to sign a contract and the agency principles
  • Contractual frameworks that are fundamental
  • Different types of contracts are used for various business concepts.

Module 2: Main Contract Provisions and Issues: Risk Management

  • Contract clauses
  • Provisions for Warranty, Indemnity, and Insurance
  • Risk allocation and performance obligations
  • Termination, suspension, and force majeure are all possibilities
  • Selecting the right legislation to apply to the contract
  • Warranties on collateral and the entire agreement

Module 3: Modifications and Variation

  • Contractual alterations
  • Assignment and novation of rights
  • Changes to the scope of work and variation clauses
  • Managing and regulating change
  • Decreasing the number of claims and disputes
  • Delay

Module 4: Securitizing Performance and Standardizing Contractual Documents

  • Standard Form Agreements on a Global Scale
  • Guarantees, bonds, and letters of assurance
  • Taking care of payment risk
  • Ownership reservation
  • Available remedies for default: Re-performance, rework, damages, penalties, and efficiency

Module 5: Contract Termination and Conflict Resolution

  • Minimizing Disputes through Contracting
  • Types and Claims in Minimizing Assessment
  • Disputes through Contract Types and Claims Assessment
  • Mechanisms for Dispute Resolution in different Levels
  • Other Resolution Processes
  • Litigation and Arbitration

Module 6: Finding a Collaborative Position When Aiming for Agreement

  • Negotiated settlement’s foundation
  • Importance of resolving disputes
  • Negotiation position in the contractual resolution process
  • Negotiation strategy – distributive and integrative
  • Emotions, perceptions, and comprehension in agreements
  • Impact of ethics on the negotiation process

Module 7: Negotiating Required Outcomes in a Strategic Way

  • Planning and goal formation
  • Steps in preparation for negotiation
  • Information requirements and sources of bargaining power
  • Taking sides in the middle of a negotiation
  • Creating a proposition that will start the conversation

Module 8: Team Dynamics and Negotiation Relationships

  • Communication skill models used in negotiation: Body language interpretation and nonverbal communication
  • Proposals, persuasion, and influence
  • Creating a commitment
  • Putting together a negotiating team Managing multi-party talks

Module 9: Culture’s Influence on the Negotiation Process

  • Positions, interests, and escalation
  • What distinguishes international negotiations?
  • Impact of cultural factors on negotiating
  • Importance of stakeholder power to support the interests of the parties involved
  • Ploys and strategies, as well as how to properly reply
  • Best practices in negotiation

Module 10: Resolving Differences and Difficult Situations

  • The mediating role of a negotiator
  • Dealing with obstinate negotiators
  • Case study of successful and failed negotiations
  • Simulation exercise and team assignment
  • Do’s and Don’ts in negotiation
  • Action plan to improve what we do

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Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.