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Contracting - Elements, Terms, and Conditions

Contracting within supply management continues to be the basis for aligned expectations and performance. An organization must properly define expected outcomes to draft the best contract. This ISM supply management course will ensure you understand the basics, such as key terms and conditions, and enable your organization to legally receive the prescribed goods and services. The course provides access for 60 days from the date of the purchase.

Member Price: $195.00

List Price: $275.00

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Course Objectives:

  1. Recognize the Requirements that Create a Valid Contract:
    • Explore the six elements that must be present in a contract to make it a valid, legally enforceable document.
  2. Define and Avoid Fraud Related to Contracts:
    • Understand the distinct areas in which an oral contract will not support the business.
    • Gain a basic overview of where a written contract is necessary.
  3. Identify Common Types of Contracts:
    • Understand that depending on the goods or services you are procuring, you will use different types of contracts.
    • Learn about a variety of contract types and describe situations in which they would be used.
  4. Recognize Critical Terms and Conditions:
    • Understand the terms and conditions as the various requirements imposed on contracting parties by the language of their contract.
    • Explore the most common and critical terms and conditions that you are likely to encounter.

Who should attend:

New procurement and supply management professionals, as well as more experienced professionals who want to refresh and update their skills. Also, any company employee who interacts with supply management and suppliers.

  • CEH Credits
  • Product Code