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OnDemand Course

Risk Mitigation Provisions in Commercial Contracts

Gain a deeper understanding of utilizing effective contract provisions calculated to reduce the severity and unpredictability of claims, losses, and damages that may occur when working with third parties.

Partnering with third parties is a core component of virtually all organizations. Many companies simply cannot provide their product or service without these affiliations. Accordingly, organizations must balance risk and reward when defining the nature of the relationship. Businesses must determine to how effectively leverage the opportunities generated from working with outside entities while at the same time manage loss and protect assets. Contracts, in particular risk mitigation provisions, are a key measure companies can take to effectuate the dual goal of advancing business interests and diminishing liability exposure. This topic will help the persons responsible for partner management identify risk, understand risk allocation mechanisms and their interplay, and then implement corresponding mitigation activities within their organization. You will leave with a deeper understanding of utilizing effective contract provisions calculated to reduce the severity and unpredictability of claims, losses, and damages that may occur when working with third parties.

Learning Objectives

  • You will be able to identify Risk Due Diligence Types
  • You will be able to differenatiate between considerations and concepts when identifying risks
  • You will be able to identify Risk Mitigation Clauses
  • You will be able to recognize remedies in Risk Management

Runtime: 101 minutes
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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

Risk Due Diligence: Preliminary Risk Assessment

  • Types of Risks
  • Considerations and Concepts When Identifying Risks

Risk Mitigation Clauses: Types, Allocation, and Interplay

  • Indemnification
  • Limitations on Liability
  • Termination Rights
  • Warranties
  • Payment Terms
  • Force Majeure
  • Remedies

Risk Mitigation Activities: It Takes More Than Just the Contract

  • Monitoring Compliance and the Relationship
  • Systems and Programming
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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

This course was last revised on April 7, 2020.

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

  • CPE/NASBA - QAS Self Study 2.5 including Management Services 2.5
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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: 2.5 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Management Services for 2.5 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement 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.
     
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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

Kristi Morgan Aronica

Kristi Morgan Aronica

Weitz Morgan PLLC

  • Partner in the office of Weitz Morgan PLLC
  • Practice focuses on government contracts and commercial contracts litigation
  • Write regularly on matters of liability in both commercial and government contracts
  • Licensed by the State Bar of Texas
  • J.D. degree, The University of Miami
  • Can be contacted at [email protected] or 512-370-5211
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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: 407691
Published 2020
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