How to Write Contracts for Procurement Professionals

In this webinar, you will learn how to draft a standard vendor contract that will assist you in meeting your goals as a procurement professional, while also meeting the needs of your organization. You will learn specific standard terms to include in your contracts and understand what they mean. Upon completion of the course, you will be able to:

WHY SHOULD YOU ATTEND?

This webinar is geared toward informing participants about important terms and conditions to know when drafting a contract for your organization. This is presented from a pier perspective based on years of experience writing contracts and not a legal review presentation by an Attorney. Understanding the terms of a contract is especially important when problems arise with a contractor or with organizational priorities. The object of the webinar is to make you a better advocate for your organization when contracting with a vendor. Sample language will be reviewed that may assist you in strengthening the next contract you are required to draft.
 
Gain an understanding of the documents and section types necessary to write a procurement contract. Learn terms that may impact your contract and your employer. Get a head start on what to look out for in a common vendor agreement. Discover what terms to include to strengthen the position of your company or agency. Gain an understanding of what terms may be considered deal breakers vs. a business decision. Receive information on the importance of terms to be used to prevent being held hostage by an underperforming vendor under contract. Use clauses to prevent getting locked into a bad contract. Learn about tools to control cost escalations.

AREA COVERED

• Preamble
• Procurement Documents as Attachments
• Scope of Work
• Payment Terms
• Term Dates and Renewals
• Escalation Clauses
• Termination Clauses
• For Cause
• For Convenience
• Jurisdiction
• Arbitration
• Insurance
• Bonding
• Indemnification
• Direct Damages
• Indirect Damages
• Terms to Avoid
• General Terms and Conditions of Your Organization
• Final Agreement Between the Parties
• Independent Contractor Provision
• Waiver of Enforcement
• Responsibility of the Contractor
• Determination
• Written Notice
• Suspension
• Ability to Cancel
• Replacing the Contractor
• Penalty Clauses
• Order of Precedence
• Contract Draft Legal Review
• Signatures Notarized
• Attachments/Exhibits
• Contract Amendments
• Contract Administration

LEARNING OBJECTIVES

Learn terms that may impact your contract and your employer. Get a head start on what to look out for in a common vendor agreement. Discover what terms to include to strengthen the position of your company or agency. Gain an understanding of what terms may be considered deal breakers vs. a business decision. Receive information on the importance of terms to be used to prevent being held hostage by an underperforming vendor under contract.

• Identify the different sections of a contract and how to arrange them
• Define standard contract terms
• Prevent common problems encountered during the creation of contracts
• Identify terms to include in your contract to protect your organization
• Manage your vendor contracts
• How to write the Contract
• What attachments to include
• Reducing your organization’s risks
• Responsibility of the parties
• Dispute resolution
• Terms to avoid
• Payment Terms
• Penalty Clauses
• Managing the contract

WHO WILL BENEFIT?

• Purchasing Agents
• Account Managers
• Contract Officers
• Buyers
• Procurement Officers
• Administrators
• Counsel