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Live Webinar

90-minute live streaming program
  • November 12
  • 1:00 - 2:30 pm EST

Purchasing Contract Administration

November 12

Learn best practices used in successfully administering purchase contracts from the buyer and seller perspectives.

A wise man once said that the good news about getting a contract is followed by the bad news that you have to perform it. This topic will provide a fuller understanding of a purchase contract for goods or services in the context of both commercial contracts and those awarded by government entities. It will explore the legal principles necessary to form a binding contract in which the buyer is obligated to pay for the goods or services the seller is obligated to deliver. It will define the term consideration and what consideration is adequate to form a binding contract. It will distinguish between those purchase contracts that are absolute in nature versus those that are conditional in nature. It will concentrate on the issues that arise in contract administration and the best practices to resolve those issues from both the buyer and seller perspectives. Finally, it will explore how contracts come to an end, either naturally or by some action on the part of the buyer, the seller, or both. It will discuss the concept of those continuing obligations imposed generally on the seller well after the contract has expired.

Learning Objectives

  • You will be able to define what a purchase contract is in both commercial and government applications.
  • You will be able to describe the common law as well as statutory principles governing purchase contracts.
  • You will be able to discuss the best practices used in successfully administering purchase contracts from the buyer and seller perspectives.
  • You will be able to recognize the most common problems that arise in purchase contract administration and the best practices to overcome them.

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Why Lorman?

Over 33 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

Contract Formation
  • Offer
  • Acceptance
  • Consideration
  • Absolute vs. Conditional Contracts
  • The Statute of Frauds
Contract Administration
  • Compliance and Performance
  • Foreseeability
  • Excusable Delays
  • Acts of God/Cybercrimes
  • Contracts for Goods
  • Contracts for Services
  • Change Orders and Modifications
  • Cardinal Changes
  • Design vs. Performance Specifications
  • Inspections/Reasonable vs. Unreasonable
  • Delivery
  • Invoicing and Payment
  • Firm-Fixed-Price vs. Cost Reimbursement
Contract Expiration
  • Period of Performance Defined
  • Options and Optional Quantities
  • Termination for Convenience/Unilateral vs. Bilateral
  • Termination for Default/Opportunity to Cure
  • Renewal Contracts
  • Follow-on Contracts
  • Audits and Closeouts
  • Holdbacks and Releases
  • Warranties
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Why Lorman?

Over 33 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

Live Webinar Registration

  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, LLC. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Who should attend?

This live webinar is designed for purchasing managers, material managers, presidents, vice presidents, business owners and managers, CFOs, controllers, accountants, contract administrators, buyers and attorneys.

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Why Lorman?

Over 33 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

Richard Moorhouse

Richard Moorhouse

Greenberg Traurig, LLP

  • Shareholder with Greenberg Traurig, LLP
  • More than 30 years of experience litigating procurement award and contract disputes at the federal, state, and local level
  • Practice also frequently involves the conduct of internal investigations, the preparation of comprehensive submissions to clients detailing the results of those investigations, and disclosures to the government in a variety of matters including those giving rise to potential debarments, suspensions, and other determinations of ineligibility to receive contract awards
  • Retained as an expert witness in complex civil litigation involving federal government contract issues
  • Achieved the highest rating with Martindale-Hubbell® Law Directory
  • J.D. and M.A. degrees, Suffolk University Law School; B.A. degree, University of Massachusetts at Amherst
  • Can be contacted at 703-749-1304 or [email protected]
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Why Lorman?

Over 33 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.

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Product ID: 406718
Published 2020
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