American Management Association Seminars

Purchasing Contract Management: How to Avoid Legal Pitfalls and Disasters
Seminar No: 04508 -XNBB
CEU Credits: 1.8
Length: 3 days

With today's financial hardships, the last thing you need is a multi-million-dollar lawsuit filed against you.

One day you negotiate a big contract and smell the promotion coming your way. Six months later, you're in the hot seat and your organization's in court! What happened? This seminar will red-flag the many legal problems often encountered in the contract administration process. You'll walk away with a step-by-step system to help you avoid or overcome these dangerous hazards!

Contract administrators, purchasing managers, purchasing agents and department managers and administrators.

How You Will Benefit:

  • Prepare for possible problems arising from the exchange of goods or services
  • Write a concise, complete RFP or RFQ
  • Create a favorable binding contract
  • Avoid modifications or oral changes that work against you
  • Monitor and enforce rights that survive closeouts

What You Will Cover:

  • Building a team that includes all key company players
  • Drafting letters of intent that don't limit financial opportunities or expose you to unnecessary risks
  • Developing a fail-safe contractual system
  • Implementing automated systems that ensure all deadlines are met
  • Best practices arbitration, mediation and litigation methods

Extended/Detailed Seminar Outline

Learning Objectives

  • Know Which Laws Apply Directly or Indirectly to Each Transaction
  • Prepare for Possible Problems Arising from the Exchange of Goods and Services
  • Write a Concise and Complete RFP or RFQ
  • Secure the Best Possible Contract
  • Understand the Proper Use of Letters of Intent Pending Signing of a Final Contract
  • Know When Legal Department Review Is Needed and When It’s Not
  • Understand-and Deal with-the Consequences for Failing to Monitor and Enforce Performance Deadlines and Quality Standards
  • Proceed Appropriately When Unanticipated Disputes or Problems Arise
  • Use Contract Closeout Procedures to Maximize Contract Compliance
  • Monitor and Enforce Rights That Survive Closeouts
Introduction to Contract Administration
  • Learn the General Meaning and Purpose of Contract Administration
  • Recognize Existence and Effects of "Legal Pitfalls and Disasters"
  • Understand How Contract Administration Relates to the Acquisition Cycle
  • Discover What Sources of Law Affect Contract Administration
  • Review Five Elements Needed for Every Legally Valid Contract
  • Gain Awareness of When and How Contract Administration Should Involve Lawyers
Legal Background Issues
  • Understand Who Contract Administrator’s "Real" Clients Are
  • Learn How to Identify What Goods and Services to Acquire for Your Clients
  • Recognize When a Company’s Internal "Limitations" Affect Contract Administration Activities
  • Learn to Recognize "Pitfalls" from Conflicting Contracts
  • Know How to Evaluate In-House vs. outside Sources
  • Gain Awareness of outside Regulations and Other Laws Affecting Contracts
Evaluation of Bids and Suppliers
  • Know How to Comply with Legal Requirements in Qualifying Vendors
  • Recognize When and What Nondisclosure/Confidentiality Agreements Are Needed
  • Gain Awareness of Legal Pitfalls and Disasters in the Bidding Process
  • Know How to Comply with Legal Requirements in Selecting Vendors
  • Gain Awareness of Hidden Legal Pitfalls in Contract Negotiating
Choosing the Contract Vehicle
  • Recognize When to Use Simple vs. Complex Contracts
  • Understand Legal Pitfalls in "Form" Contracts
  • Learn What "Compensation Type" Is Best for Each Contracting Situation
  • Understand Statement of Work-Its Benefits and Legal Pitfalls
Special "Risk" Related Provisions
  • Understand How Contracts Allocate "Risks"
  • Learn to Deal with Special Risk Allocation Provisions:
    • F.O.B./Risk of Loss
    • Warranty and Liability Limitation
    • Indemnification
    • Force Majeure
    • Intellectual Property
    • Insurance and Subrogation
    • Bankruptcy Pitfalls
    • Foreign Jurisdiction and Laws
    • Dispute Resolution Methods
Proper Contract Documentation
  • Understand What Contract Documents Buyer Will Generate to Be Included in Final Contract
  • Understand What Contract Documents Seller Will Generate to Be Included in Final Contract
  • Learn to Recognize Potential Legal Pitfalls from Failing to Organize, Prioritize and Bind Contract Parts Correctly and How to Do It Right
  • Learn How to Integrate and Prioritize Seller’s Input
Securing, Monitoring and Enforcing Performance
  • Learn What Approvals, Signatures, Etc., Are Necessary to Legally Bind a Party to a Contract
  • Recognize Dangers from Ineffective Approval of Contract
  • Know "Ways" and "Tools" to "Secure" Contract Performance and Compliance
  • Understand How to Use and Protect against "Escape Clauses"
  • Learn Benefits and Dangers of "Price Escalation" Provisions
  • Understand Benefits and Legal Pitfalls in "Quality" Provisions
  • Gain Awareness of "Minimum Quantity" Provision Benefits
  • Understand Need to and Benefits of Monitoring Performance
  • Recognize Performance That Needs Monitoring
  • Gain Awareness of Monitoring "Tools"
    • Tickler Files
    • Contract Administration Audit
    • Periodic Supplier Review
    • Client Feedback Surveys
Avoiding or Perfecting Contract Claims and Related Defenses
  • Learn How to Properly Document Intentional Modifications of Contracts
  • Recognize Potential Unintended Contract Modifications and How to Avoid Them
  • Recognize and Legally Deal with Property Belonging to Others (Rejected and Misdelivered Goods, etc.)
  • Know How to Obtain and Document a Binding Settlement and Release of Claims
Proper Contract Closeout
  • Understand Objectives of Contract Closeout
  • Know and Use Closeout "Tools" Available
    • Bonds
    • Performance, Payment
    • Letter of Credit
    • Retention
    • Contractor’s Certificate
    • Waiver and Release of Lien
    • Right of Set Off
  • Know How to Deal with the "Punch List" Obstacle to Closeout
  • Understand and Effectively Deal with Mechanic’s Liens, Vendor Bankruptcy, and Return of Confidential or Proprietary Documentation and Materials
Post-Closeout Concerns
  • Know When and How to Release Security Instruments (Bonds, Letter of Credit, Etc.)
  • Understand and Effectively Use Audit Rights
  • Recognize Need to Monitor and Enforce Warranty Rights after Closeout
  • Know When and How to Enforce Non-Competition Provisions
  • Know When and How to Enforce Nondisclosure and Confidentiality Provisions
  • Recognize and Perfect Intellectual Property Rights (Patents, Copyrights, Etc.)
  • Know How to Use Postmortems to Improve Skills

Start and End times: first day - 8:30am-5pm, all other days 9am-5pm unless otherwise specified. Your registration confirmation notice will confirm the hotel/conference center for the seminar for which you registered. The information included on this page is all the information available on this seminar. Please use form below to register only. To request information that is not included above please send an email to . Remember to specify the complete seminar number about which you are requesting information.

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If you cannot attend a seminar you can contact AMA in advance to transfer to a future session, or you can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply email us at . If you cancel with less than three weeks’ advance notice, you will be liable for the entire seminar fee. Once your payment has been received, you may request a courtesy transfer to use at any future AMA seminar of equal or lesser length. The courtesy transfer must be used within one year of the date of your originally scheduled seminar. In fairness to all attendees, if you do not attend a seminar session for which you are confirmed and do not contact AMA to cancel in advance, you will be charged the entire seminar fee.

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