Current segment
Segment 5.5 Managing Contractual Risks
Segment 5.5 Managing Contractual Risks
Knowledge: Will know and understand | Capabilities: Will be able to |
---|---|
Legal issues relating to the formation of contracts with customers or suppliers, such as;
|
Analyse the legal and commercial implications relating to the formation of contracts and explain these to colleagues and other internal stakeholders |
The main express terms that are commonly applied in contracts for the supply of goods or services, such as:
|
Interpret and revise key contract terms that are included in contracts |
The main remedies for the default or breach of contract |
Review contracts and recommend appropriate action to be taken in the event of default or breach of contract, including sub-contracting work without agreement |
The main provisions that cover variations, claims or compensation events |
Evaluate and recommend appropriate action to be taken to resolve variations, claims or compensation events |
The main methods for dispute resolution including negotiation, alternative dispute resolution through mediation, conciliation and expert determination, adjudication, arbitration and litigation |
Evaluate and recommend appropriate methods to resolve disputes. Take action to resolve disputes |
Flow-down arrangements in supply chains that affect contracts |
Apply relevant flow-down requirements in the supply chain |
The use of key milestones in contract management and project risk management |
Establish and review key milestones and implement appropriate risk management actions |
The impact of supply chain risk on organisation reputation |
Develop and manage approaches to mitigate the impact of supply chain risk on organisational reputation, escalating significant issues as appropriate |
Legal issues relating to the formation of contracts with customers or suppliers, such as;
- Offers
- Counter offers
- Acceptance
- Precedence of documents
Analyse the legal and commercial implications relating to the formation of contracts and explain these to colleagues and other internal stakeholders
The main express terms that are commonly applied in contracts for the supply of goods or services, such as:
- Indemnities and liabilities
- Sub-contracting and assignment
- Insurances
- Guarantees
- Liquidated damages
- Payment
- Delivery and completion
Interpret and revise key contract terms that are included in contracts
The main remedies for the default or breach of contract
Review contracts and recommend appropriate action to be taken in the event of default or breach of contract, including sub-contracting work without agreement
The main provisions that cover variations, claims or compensation events
Evaluate and recommend appropriate action to be taken to resolve variations, claims or compensation events
The main methods for dispute resolution including negotiation, alternative dispute resolution through mediation, conciliation and expert determination, adjudication, arbitration and litigation
Evaluate and recommend appropriate methods to resolve disputes. Take action to resolve disputes
Flow-down arrangements in supply chains that affect contracts
Apply relevant flow-down requirements in the supply chain
The use of key milestones in contract management and project risk management
Establish and review key milestones and implement appropriate risk management actions
The impact of supply chain risk on organisation reputation
Develop and manage approaches to mitigate the impact of supply chain risk on organisational reputation, escalating significant issues as appropriate
This segment was last updated on: 28th April 2023