Training on Contract Negotiation

Course Overview

Commercial success is built on effective contract negotiation. Contract negotiation is equally vital for the support team as it is for the lead negotiator. Professional contract negotiation allows delegates to maintain positive connections with company stakeholders and their advisors while successfully negotiating contracts, business negotiations, and disputes.

Why is contract negotiation essential? A comprehensive and well-researched contract negotiation enables the organization to gain a clear picture of each side’s goals, priorities, and points of view. It becomes possible to get to a place where the goals and objectives of both organizations/parties can be met in a way that everyone is happy with and agrees on. Effective contract negotiation allows the organization to build long-term relationships with other people that help them grow and work together more.

How can organizations negotiate efficiently? Businesses now have a centralized space for safe, open, and rapid contract negotiations thanks to cutting-edge contract automation technologies. Negotiating a contract may be difficult, but some tactics and procedures can benefit both sides. Combining tech-driven solutions with contract negotiation tactics might help businesses strike better bargains or attain positive results. One must arrive at the bargaining table with an understanding of the other side’s position, objectives, and preferences if they are to have any chance of swaying the other side. Doing thorough research on the other side allows you to gauge their existing stance, priorities, and areas of flexibility.

The Contract Negotiation Course from PROTRAIN institute includes a deep review of bargaining tactics as well as a variety effective negotiating abilities and styles. The course aims to add much value to the business process. The course addresses how to settle a dispute that may develop during the contracts operation. Participants will be able to put their abilities to testing and using interactive approaches such as case studies, seminars, practical exercises, and feedback from the training consultant. Commercial success hinges on effective contract negotiation, and thus, the course will equip the participants with the necessary theoretical and practical knowledge that will contribute to business success.

Target Audience

This training course will benefit all levels of people in contract and project management, purchasing, supply and procurement:

Personnel in the Contracts and Contracting Unit
Professionals in charge of projects
Personnel in Procurement and Purchasing
Anyone active in risk management
Contract Managers, Commercial Managers, Finance Managers, Business Development Managers, Sales Support Staff, Purchasing and Procurement Managers
Legal Professionals

Course Duration

5 DAYS

Training Objectives

The Contract Negotiation Course revolves around the following objectives:

To highlight the importance of conducting research and planning before beginning a negotiation
To learn different types of common negotiation strategies being used in the business landscape
To gain knowledge of the different ways to negotiate
To work on and develop participants negotiating styles
To find, manage, and turn stakeholder differences into a business advantage
To understand the procedures of contract creation
To demonstrate how contract provisions can be used to reduce the risk of a disagreement
To diagnose the long-term effects of a disagreement on relationships
To describe how tactics are used to overcome conflict causes
To improve understanding of legal concerns in contracts and learn new negotiation techniques

TRAINING OUTLINE

The course will cover the following modules:

Module 1: Formation of Contracts

Advantages of using contracts
Fundamentals of contract formation
Formalities for contract formation examples
Power to sign a contract and the agency principles
Contractual frameworks that are fundamental
Different types of contracts are used for various business concepts

Module 2: Main Contract Provisions and Issues: Risk Management

Contract clauses
Provisions for Warranty, Indemnity, and Insurance
Risk allocation and performance obligations
Termination, suspension, and force majeure are all possibilities
Selecting the right legislation to apply the contract
Warranties on collateral and the entire agreement

Module 3: Modifications and Variation

Contractual alterations
Assignment and novation of rights
Changes to the scope of work and variation clauses
Managing and regulating change
Decreasing the number of claims and disputes
Delay

Module 4: Securitizing Performance and Standardizing Contractual Documents

Standard Form Agreements on a Global Scale
Guarantees, bonds, and letters of assurance
Taking care of payment risk
Ownership reservation
Available remedies for default: Re-performance, rework, damages, penalties, and efficiency

Module 5: Contract Termination and Conflict Resolution

Minimizing Disputes through Contracting
Types and Claims in Minimizing Assessment
Disputes through Contract Types and Claims Assessment
Mechanisms of Dispute Resolution in different Levels
Other Resolution Processes
Litigation and Arbitration

Module 6: Finding a Collaborative Position when Aiming for Agreement

Negotiated settlements foundation
Importance of resolving disputes
Negotiation position in the contractual resolution process
Negotiation strategy – distributive and integrative
Emotions, perceptions, and comprehension in agreements
Impact of ethics on the negotiation process

Module 7: Negotiating Required Outcomes in a Strategic Way

Planning and goal formation
Steps in preparation for negotiation
Information requirements and sources of bargaining power
Taking sides in the middle of a negotiation
Creating a proposition that will start the conversation

Module 8: Team Dynamics and Negotiation Relationships

Communication skill models used in negotiation: Body language interpretation and non-verbal communication
Proposals, persuasion, and influence
Creating a commitment
Putting together a negotiating team managing multi-party talks

Module 9: Cultures Influence on the Negotiation Process

Positions, interests, and escalation
What distinguishes international negotiations?
Impact of cultural factors in negotiating
Importance of stakeholder power to support the interests of the parties involved
Ploys and strategies, as well as how to properly reply
Best practices in negotiation

Module 10: Resolving Differences and Difficult Situations

The mediating role of a negotiator
Dealing with obstinate negotiators
Case study of successful and failed negotiations
Stimulation exercise and team assignment
Do’s and Don’ts in negotiation
Action plan to improve what we do

Training Approach

The instructor-led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercises, web-based tutorial and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields. All facilitation and course materials will be offered in English.

Accreditation

Upon successful completion of this training, participants will be issued with a Protrain institute certificate.

Tailor-Made

This training can be customized to suit the needs of your institution upon request.

TRAINING DATE

VENUE

Register, Physical or Online Training

14/09/2024 to
19/09/2024

Nakuru

14/09/2024 to
19/09/2024

Nairobi

14/09/2024 to
19/09/2024

Nairobi

14/09/2024 to
19/09/2024

Nairobi