Course Details
Contracting: What all the T's & C's Mean
When it comes to contracting, understanding supply chain terms and conditions is an essential part of the job. This skill is so critical that without it, supply management professionals can place their organization in jeopardy. This popular and essential supply chain course thoroughly addresses many of the standard terms found in most contracts and also examines the impact of electronic purchasing. Discussions delve into key terminology, clauses that can be used in drawing up agreements, and examples of contract language. As with all our supply management courses, you will have the opportunity to put your knowledge into action. In this course, you are encouraged to bring your own contracts, clauses, and/or purchase orders for review and hands-on practical learning and application.
Member Price: $1,395.00
VIRTUAL CLASS
Date
Jan 14-16, 2025
Location
Additional Information
Description
What You Will Learn:
- The elements of a contract
- The use of common contract clauses (terms and conditions) for goods and services
- When different clauses should and should not be used
- How to draft better contract clauses
- The impact of electronic purchasing on contracting
- Hands on applicable knowledge relevant to your contracts
Virtual Class Schedule:
Day 1 - 10:00 am ET - 3:00 pm ET / 7:00 am PT - 12:00 am PT (with two 15 minute breaks)
Day 2 - 10:00 am ET - 3:00 pm ET / 7:00 am PT - 12:00 pm PT (with two 15 minute breaks)
Day 3 - 10:00 am ET - 2:00 pm ET / 7:00 am PT - 11:00 am PT (with two 10 minute breaks)
Course Overview & Goals:
- Understand supply chain terms and conditions
- Thoroughly addresses many of the standard terms found in most contracts
- Overview of laws that impact contracts
- Review of basic contract law concepts
- Contract formation: How to construct legally binding agreements
- Interpretation of contract language
- Legal wording that is and is not necessary in agreements
- Purchase orders, blanket orders, request for proposals, requests for quotation, letters of intent and contracts
- Contracts and electronic purchasing
- How widespread use of high-tech forms of communication impacts contracting
- Detailed discussion of a variety of contract clauses (terms and conditions) for goods and services
- Drafting contract terms and conditions from both the buyer's and seller's perspectives
- Practical hands-on experience using your organization’s contracts
- Expert-level instruction and feedback
- Time for networking and learning with peers
- Ample time for questions specific to your role and organization’s contracts
Who Should Attend:
New and experienced contracting, purchasing and supply management professionals who desire to understand basic contract premises and law. This supply chain training is also recommended for professionals seeking a detailed introduction to contract terms and conditions.
Terms And Conditions
Virtual Learning Transferals: Registrations are transferable without any charge to another ISM Virtual Learning Course occurring within 12 months of the original purchase. Transferring registrations to another party are subject to price variance or change based on membership status and an additional $50 fee will be incurred.
Cancellations Virtual Learning: Cancellations more than 5 weeks before the date of the course will incur an administrative charge of 50 percent. Cancellation within 5 weeks of the date of the event will be charged the full fee. You must notify ISM in writing of a cancellation.
Tax Deduction: The Internal Revenue Service may permit an income tax deduction to U.S. residents for expenses (including registration fees, travel costs, meals and lodging) incurred in pursuit of continuing professional education. Consult your tax adviser for details.