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Live Webinar

90-minute live streaming program
  • October 16
  • 1:00 - 2:30 pm EST

Also available as:

OnDemand Course

Purchasing Contract Remedies

October 16

Learn to design and negotiate contracts that keep you covered even under unforeseen circumstances.

Procurement is a vital organizational function for any company. Vendor relationships provide access to vital goods and services to purchasing organizations but are also potential points of failure for those organizations. For vendors, the costs associated with a single failed customer relationship can wipe out the margins from a multitude of successful relationships. For purchasers, this topic will educate you about the remedies that your organization can negotiate for and obtain in the event that a vendor fails to deliver as promised. For vendors, this topic will give you tools to mitigate the risk of a failed customer relationship while at the same time offering customers good faith recourse in the event of problems with the transaction or relationship.

Learning Objectives

  • You will be able to define the nature of the remedies that your organization should seek in the event that a contractual partner breaches its obligations.
  • You will be able to discuss with your internal stakeholders the potential contractual remedies to request in negotiations.
  • You will be able to recognize the legal risks that particular contract provisions pose for your organization.
  • You will be able to identify potential methods of mitigating the legal risks your organization is undertaking in connection with its contractual relationships.

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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

Monetary Remedies
  • Direct Damages
  • Consequential Damages
  • Punitive Damages
  • Statutory Damages
  • Liquidated Damages
Equitable Remedies
  • Specific Performance
  • Mandatory Injunction
  • Prohibitive Injunction
  • Rescission
  • Reformation
  • Replevin
Performance-Based Remedies
  • Repair or Replace
  • Substituted Performance
  • Cover
  • Transition Assistance
  • Other
Limitation of Remedies
  • Notice of and Opportunity to Cure Breach
  • Duty to Mitigate Damages
  • Contractual Limitations on Monetary Damages Recoverable
  • Contractual Limitations on Non-Monetary Remedies
  • Liquidated Damages Clauses
Calculation of Damages
  • Calculation of Compensatory Damages
  • Calculation of Consequential Damages
  • Calculation of Punitive Damages
  • Agreed Upon Calculation Methods
  • Lost Profits/Disgorgement
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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

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on November 6, 2018.

Call 1-866-352-9540 for further credit information.

  • 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.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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 Production 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: Production 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.
     

Who should attend?

This live webinar is designed for purchasing managers, material managers, contract administrators, senior buyers, project directors, controllers, accountants 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

Francis X. Taney, Jr.

Francis X. Taney, Jr.

Taney Legal LLC

  • 25 years of experience with both negotiation of professional service contracts and litigation arising from such contracts
  • Tried approximately 50 cases to verdict or award in bench and jury trials, arbitrations and other administrative proceedings
  • Has coordinated the legal strategies for close to 100 technology-based startup companies
  • Legal Intelligencer “Lawyer on the Fast Track”
  • Pennsylvania Super Lawyers “Rising Star”
  • SmartCEO “Legal Elite” list
  • Featured legal commentator on Fox Business Network “Money for Breakfast” and CNBC “Power Lunch” segments
  • Selected published works include: "Technology Transactions and Effective Litigation Management", chapter, Inside the Minds: Technology Law Client Strategies, 2007; "Navigating the IT Outsourcing and Procurement Process", chapter, CIO Wisdom II: More Best Practices – Harris Kern Enterprise Computing Institute, 2006; and "Securing the Whole Enterprise: Business and Legal Issues", an article he co-wrote with Thomas Costello, IT Professional, 2006
  • Can be contacted at 215-514-8736 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 407587
Published 2018, 2020
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