How to Write Contracts for Procurement Professionals. Many times, procurement professionals are required to draft or review contracts while not being contract specialists. At the end of the procurement award process, the next step is to draft a contract with the vendor. This contract will determine whether the vendor is controlled by the terms of the contract or are able to avoid being responsible.
This program is from the perspective of a procurement professional with many years of experience dealing with contracts and not from an attorney. Areas covered will be terms to use in drafting a contract, some common term definitions, as well as terms to include and terms to avoid. While this is mainly covering how to draft a contract the issues around vendor-initiated contracts will also be discussed. Part of the program will include reviewing a sample contract and discussing the various parts of the contract including such things as payment terms, cancellation provisions, renewals, and escalation clauses.
Attendees will know the different sections and attachments of a contract and how to arrange them. Participants will learn how to prevent creating problems for themselves in the way they create their contracts and know what terms to include to protect your organization.
The program will conclude with information on how to manage your vendor contract and how to avoid pitfalls.
WHY SHOULD YOU ATTEND?
Learn terms that may impact your contract and your employer. Get a head start on what to look out for in a common vendor agreement. Discover what terms to include to strengthen the position of your company or agency. Gain an understanding of what terms may be considered deal breakers vs. a business decision. Receive information on the importance of terms to be used to prevent being held hostage by an underperforming vendor under contract.
AREA COVERED
- Drafting a Contract
- Scope of Work
- Payment Terms
- Term Dates & Renewals
- Necessary Clauses
- Contract Administration
LEARNING OBJECTIVES
- How to Draft a Contract
- Vendor terms to avoid
- Terms for you to include
- How to Amend/Renew a Contract
- How to manage a Contract
WHO WILL BENEFIT?
- Purchasing Agents
- Account Managers
- Contract Officers
- Buyers
- Procurement Officers
- Administrators
- Counsel
Learn terms that may impact your contract and your employer. Get a head start on what to look out for in a common vendor agreement. Discover what terms to include to strengthen the position of your company or agency. Gain an understanding of what terms may be considered deal breakers vs. a business decision. Receive information on the importance of terms to be used to prevent being held hostage by an underperforming vendor under contract.
- Drafting a Contract
- Scope of Work
- Payment Terms
- Term Dates & Renewals
- Necessary Clauses
- Contract Administration
- How to Draft a Contract
- Vendor terms to avoid
- Terms for you to include
- How to Amend/Renew a Contract
- How to manage a Contract
- Purchasing Agents
- Account Managers
- Contract Officers
- Buyers
- Procurement Officers
- Administrators
- Counsel