Overview

Fundamentals of Contracts and Tenders 

About the Course

 This three-day workshop is intended to assist businesses in selecting the finest vendors for the appropriate contracts. In order to negotiate, document, and guarantee a dependable supply of goods and services for capital projects and continuing operations, contracting involves multiple roles that must cooperate. If contracts are to be successful in managing supply risks, everyone involved in contracting with suppliers and service providers must comprehend the entire process, the secrets to success, and what is required of their position. Issues related to the oil and gas business are especially addressed in the course materials and exercises.

 Course was excellent. the course's role-playing for negotiations and tender management sections. Very beneficial. - Purchaser, American

 The negotiation exercise with group participation was perhaps the most beneficial overall. - Field Engineer - United States Gulf Coast

Target Audience

 everyone involved in the formation, negotiation, selection, and execution of contracts with suppliers of goods and services to the oil and gas sector. This includes those who are involved in all aspects of contract formation. Project technical positions including those of a facilities engineer, a drilling engineer, a project engineer, a commissioning engineer, a contracts engineer, and a planning engineer are included.

Course Objectives

•  How to more effectively handle legal and project risks through the contracting process How to effectively handle disagreements and problems with contract performance What is necessary for a winning tender package
• How to decide the contract price approach to use in order to reduce financial risks and contract expenses The distinction between cost and price analysis and how to analyze a proposal using each method appropriate contract terms and circumstances, both commercial and legal

Course Outlines

• Overview of the procurement procedure
• Important considerations when drafting a contract in the oil and gas sector Setting priorities for risk management during the contracting process
• The best way to engage legal assistance in a contracting situation and the legal system managing and preventing contract conflicts in a difficult industry
• the tender package's essential documents and the tendering process Pricing goals of the buyer and seller to take into account when tendering Tools for addressing financial major risks used in tendering
• Contract types and instances in various industries
• Including language for economic pricing adjustments in lump sum agreements Price and cost analysis are taken into account while evaluating and awarding bids.
• the application of a formal contract change control procedure