Gain a better understanding of techniques on how to help navigate through legal issues within the supply management world.
Today's most successful supply management organizations are highly-skilled at strategic sourcing. To do strategic sourcing well, procurement leaders must also be experts in developing and negotiating multiyear contracts/agreements. So what methods and techniques are necessary to navigate through legal issues in the world of supply management. This information helps the people responsible for supply management to understand best practices in drafting agreements which will provide value to their organizations. Key contracting concepts will be explained including detailed reviews of key contractual clauses which every procurement leader needs to understand. These concepts are hallmarks of top performing supply management organizations.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Key Elements of a Commercial Contract
- Four Required Elements Establishing a Contract
- When a Contract Is Formed - Meeting of the Minds
- Offer, Counter-Offer, and Acceptance
- Principles of Agency
History and Attributes of Domestic Bodies of Contracting Law Affecting Procurement
- Common Law
- Uniform Commercial Code (UCC)
- Federal Acquisition Requirements
Examples and Meaning of Important Contract Clauses
- Entire Agreement
- Survivability
- Independent Contractor
- Limitation of Liability
- Indemnification
- Force Majeure
- Insurance
- Survival
- Governing Law
- Resolution of Disputes
- Use by Affiliates
- Payment
- Warranty
- Acceptance
Modern Drafting Trends
- Business English vs. Legaleze
- The Rule of Ten
- Internal References
- Look and Feel
Methods of Efficiently Managing a Contract Portfolio
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 1, 2019.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Mark J. Trowbridge, CPSM, C.P.M., MCIPS
Strategic Procurement Solutions, LLC
- Principal in the office of Strategic Procurement Solutions, LLC, a provider of advanced procurement advisory, skills diagnostic, and professional development services; active advisor to leading corporations and governmental groups on contracting processes, templates, and risk management
- Past career roles in manufacturing (3rd largest global manufacturer of yachts), transportation (world’s largest airline), and financial services (domestic 2nd largest and global 13th largest banking enterprise); directed all contracts management for Bank of America globally
- 20 years in consulting supporting clients like Apple, Intel, Adobe Systems, Delphi, Kraft Foods, Johnson & Johnson, Hertz Corporation, Mitsubishi, State of Colorado, Volvo North America, Signet Jewelers (Kay, Jared, Zales), Limited Brands, Allstate, Commonwealth of Massachusetts, Nationwide, CarMax, Hertz Corporation, Tupperware International, State of Maryland, Newmont Mining, Sephora, etc.
- Practice emphasizes all aspects of procurement and supply management performance
- Conducts regular seminars and workshops on numerous procurement category management, expert strategic sourcing, advanced procurement negotiations, best practices in inventory management, strategic contracting, and others
- Written many articles in publications and information sites like Supply Chain Management Review, Inside Supply Management, eSide Supply Management, SpendMatters, and Modern Materials Management
- Membership information includes Institute for Supply Management (ISM), National Contract Management Association (NCMA), Chartered Institute of Purchasing & Supply (CIPS)
- B.A. degree in business administration, Pepperdine University; holds professional designations as a CPSM and C.P.M. from the Institute of Supply Management (ISM) and MCIPS from the London Chartered Institute for Purchasing & Supply (CIPS)
- Can be contacted at 209-419-1699, [email protected], or www.linkedin.com/in/mark-trowbridge-cpsm-c-p-m-mcips-24184b2a/
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Why Lorman?
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