Best Tendering and Procurement Practices
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Best Tendering and Procurement Practices Course
Introduction:
In the realm of contract and procurement functions, both current and future leaders are expected to possess expertise in world-class buying and contract practices. They are tasked with driving exceptional performance in these areas, and this program is specifically designed to equip contract and purchasing leaders with the strategies, concepts, and techniques necessary to achieve such world-class performance.
This comprehensive program goes beyond theoretical knowledge and delves into practical implementation. It aims to instill not only the necessary skills and knowledge but also the enthusiasm and guidance needed to "make it happen" in the real world of contracts and procurement.
Participants will gain insights into the strategies, concepts, and techniques widely recognized as leading to world-class performance in contracts and procurement activities. By exploring industry best practices, they will acquire a solid foundation to guide their decision-making and drive excellence in their roles.
The program places a strong emphasis on practical application, ensuring that participants are equipped with the tools and techniques to implement these strategies effectively. Through real-world case studies and interactive exercises, participants will gain firsthand experience in applying these concepts to tangible scenarios. This hands-on approach enables leaders to bridge the gap between theory and practice, empowering them to make a significant impact within their organizations.
Furthermore, the program aims to inspire and foster enthusiasm among participants. Recognizing the importance of leadership in driving change and achieving world-class performance, the program provides guidance on how to motivate and guide teams to success. By instilling a sense of purpose and passion, leaders will be better equipped to navigate challenges, overcome obstacles, and inspire their teams to achieve exceptional results.
By participating in this program, contract and purchasing leaders will gain the knowledge, skills, and motivation to excel in their roles. They will be equipped with the strategies, concepts, and techniques necessary for world-class performance in contracts and procurement activities. With a focus on practical implementation and leadership, participants will be empowered to drive positive change, optimize outcomes, and make a lasting impact within their organizations.
Join this program and embark on a transformative journey toward becoming an expert in contract and procurement leadership. Acquire the knowledge, enthusiasm, and guidance needed to drive world-class performance and inspire your teams to achieve excellence. By mastering the art of effective buying and contract practices, you will position yourself as a trusted leader in the field, capable of delivering exceptional results in the dynamic landscape of contracts and procurement.
Course Objectives:
This course will give you:
- Discuss elements of the good contract process
- Learn methods of tender evaluation
- Review contract strategies
- See examples of important commercial contract clauses
- Be presented with the essential elements of a contract
- Be given examples of contract checklist
- Learn how to develop high-performance purchasing organizations
- Develop strategic purchasing plans
- Be taught how to develop spend profiles and perform analysis to guide strategies
- Explore many ways of reporting key performance indicators (KPI)
- Be presented with the most important competencies for contract and purchasing personnel
Who Should Attend?
- Contracts, Purchasing, and Project personnel
- Engineering, Operational, and Maintenance personnel
- And all others who are involved in the planning, evaluation, preparation, and management of tenders, awards, contracts, and purchases that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in contracts and purchasing activities
Course Outlines:
What are contracts and how are they created?
- The need for contractual relationships
- What is needed to create a valid contract?
- Offer and acceptance
- Intention to create a legal relationship
- Written or oral?
- Other legal formalities in different countries
- Signing and sealing
- Witnesses
- Authority to sign
- How to prove authority
- The tender process
- Involvement of agents
- What happens if there is no contract, but work is carried out anyway?
- Making contracts enforceable – with particular emphasis on the international context
Structure of Contracts
- Form of Agreement
- General Terms and Conditions
- Special Terms and Conditions
- Schedules or Appendices
- Title (ownership) and risk of damage
- When does it transfer?
- Use of ICC INCOTERMS
- Notices and other formalities
- Which law and which courts?
- Different contractual structures
- Traditional
- New structures used in the Middle East
- New structures not widely used in the Middle East
Collateral Documents
- Bonds and guarantees
- Tender Bonds
- Advance Payment Bonds
- Performance Bonds
- Warranty Bonds
- Parent Company Guarantees
- Retention/Withholding
- Retention Bonds
- Letters of intent
- Letters of award
- Letters of comfort or awareness
- Insurance policies
- Types
- Who should carry the cover?
- How should you manage claims?
- Assessing the need for financial security in the current economic climate
- Are banks or insurance company’s good enough security?
- Changes to the Contract documents
- Need for consent
- Assignment/Novation explained and distinguished
- Waiver
- Changes to the scope
- Variation clauses
- Notice provisions
- Valuation of variations and changes
- Claims – what they are, and how they arise
- Delay and disruption
- Delay caused by the client
- Delay caused by contractor/supplier
- Force majeure
Resolving Disputes
- Negotiation
- Staged dispute resolution clauses
- Litigation
- Arbitration
- New best practices in di