Course Overview

A contract specialist may be responsible for a variety of tasks, including contract preparation and negotiation, bid evaluation, pricing analysis, and study of current legal rules. They may monitor sales, maintain inventory records, identify suppliers, and ensure that their firms always receive the best prices on the highest-quality goods and services. A contract expert oversees the whole contract generation process, from studying legal rules to negotiating conditions and drafting the print document.

What is the role of a contract specialist? Contract specialists are responsible for drafting legal agreements between businesses and other entities by using up-to-date research techniques and drawing on their familiarity with the client’s goals and resources. They work with the legal team to get contracts and agreements drafted in a way that satisfies the law and the client’s needs. Assisting customers in meeting contract obligations or resolving contract termination issues amicably is a key part of their service. In addition to drafting legal papers, they are also responsible for proofreading, editing, and fact-checking such documents to ensure correctness and consistency while adhering to a client-supplied style standard.

Why do companies need contract specialists? Contracts are written (or digital) pledges that are vital to many aspects of running a company. They serve as the basis for recording ongoing income in rapidly expanding markets such as business-to-business software as a service. Both financial planning and risk/compliance analysis rely on them. A corporation may seek to employ a specialist who can function as a liaison between all departments of the organisation while taking charge of the contract archives.

The Contract Specialist Certification Course from Zoe Talent Solutions aims to add value to professionals and organisations. This course will provide the participants with the necessary skills as assumed by a contract manager, including writing, negotiating, finalizing, and monitoring the contracts of an organisation with external parties, like vendors and contractors, and internal employees. The course aims to provide vast growth opportunities to managers and organisations by developing the required skills in contract management. This course will enhance the existing skills and knowledge of the participants, concerning different aspects, types, and processes of contracts in a business setting.  The right kind of help, the right kind of training, and the right kind of development tools are planned to be taught through this specialised course. Finally, it will provide tangible value and skills as valued by employers in the business world. Thus, the course understands the needs of contract experts and aims to equip them with the necessary knowledge and practical experience to excel in the real world.

Course Objectives

The objectives of this Contract Specialist Certification Course from Zoe Talent Solutions are to empower the participating professionals:

• To gain knowledge in contract drafting, negotiation, and dispute resolution skills
• To examine the fundamental principles, characteristics, and objectives of contract management
• To evaluate the obligations under a contract to ensure that efficient, cost-effective services are provided to the employer organisation
• To recognize the importance of contract management in terms of performance, administration, and delivery
• To ensure risks in contract management are well-considered, managed, and mitigated
• To keep the mutually beneficial connection with suppliers alive and well
• To create and implement outcome-focused strategies

Training Methodology

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

• Interactive lectures by contract specialist trainers
• Assistance in the creation of a learning contract
• Recommendation of learning resources.
• High levels of participant discussion and group interactions
• Use of relevant case studies, practical exercises, and business examples

This programme, like all our highly regarded courses, employs the ‘Do-Review-Learn-Apply’ concept.

Organisational Benefits

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

• Trained contract specialists will aim to resolve claims, disputes, and performance issues of the organisation using the most efficient means possible
• The organisation will be able to explore new ways to accommodate stakeholders’ needs
• The organisation will be able to identify and reduce potential contractual risks
• Trained participants will be able to select relevant and appropriate contract kinds and formats for various scenarios
• It will get easier to maintain closer contacts and connections with suppliers

Personal Benefits

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

• Developing essential skill set such as interpersonal communication and organisational skills will provide the participants with cutting edge in their careers
• Participants will gain expertise in troubleshooting, problem-solving, and the provision of solutions to client issues, customer complaints, and similar matters
• Participants will gain analytical, logical thinking and problem-solving skills that will help them investigate market developments, regulatory shifts, and complementary contracting options
• Develop conflict resolution techniques that will make the participants sought after by companies

Who Should Attend?

All levels of staff involved in contract administration, negotiation, procurement, operations, and disputes will benefit from this training:

• Entrepreneurs, decision-makers, executive directors, and officials who engage in or negotiate contracts regularly
• Contract Management Professionals who want to increase their contract management expertise
• Lawyers who want to specialise in contract preparation and negotiation
• Contract Professionals and Project Coordinators
• Dispute resolution lawyers
• Contract management specialists and attorneys in Oil and Gas
• Students of law who wish to improve their contract drafting and negotiating abilities

Course Outline

Module 1: Contracting Principals

• Need for and importance of contracts
• Processes in drafting a contract
• Elements of a legitimate contract
• Tendering and Contract Award Process Overview
• Tendering’s benefits and certain dangers to avoid
• Differentiating between prices and values
• Obligation Documents of Other Types
• Guarantees and Bonds
• Legally binding aspects of letters of intent and awards
• Importance of letter of comfort
• side letters: unsafe and dangerous
• Agency law
• Contract-signing authority

Module 2: Setup of a Contract

• Taking a risk-based approach to contract management
• Responsibilities and roles
• Stakeholder management that works

Module 3: Documents Assistive

• Performance commitments and security
• Guarantees and bonds
• Assurances from the parent firm.
• Intent letters, consolation letters, and awareness letters
• Policies of insurance
• Importance of financial security

Module 4: Pre-Award

• Source Explanation Plans for Selection
• Factors to Consider in the Evaluation
• Dispute Settlement Factors to Consider in the Evaluation

Module 5: Management of Costs and Value

• Recognizing the whole cost
• Lowering the total cost
• Cost, value, and benefits realisation are all tracked.

Module 6: Contract Closure Management

• Transitions to be managed
• Important contract closeout hints, techniques, and pitfalls
• Taking notes and sharing what you’ve learnt

Module 7: Contractual Process Based on Risk

• Recognition
• Evaluation
• Classification
• Quantification
• Observing

Module 8: Eliminating Contract Dispute Sources

• Omissions and errors
• Preventing and resolving disputes
• Having to Deal with Unknowns
• Observing Changes
• Keeping Expectations in Check

Module 9: Dispute Resolution

• Processes in the Negotiation Stage
• Compromise is required.
• Techniques of negotiation
• Litigation