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 a 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 yourself in the way you create your contract 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.Learning Objectives How to Draft a Contract? Vendor terms to avoidTerms for you to includeHow to Amend/Renew a Contract? How to manage a Contract?Who Should AttendProcurement ProfessionalsCompliance OfficersAccounts Payable staff Contract Officers Department Managers responsible for contract management Why Should You Attend In this webinar, you will learn to draft a standard vendor contract that will assist you in meeting your goals as a procurement professional and meeting the needs of your organization. It will give you an understanding of what standard terms to include in your contracts and what they mean. You will be able to Know the different sections of a contract and how to arrange them:Understand standard contract term definitions How to prevent creating problems for yourself in the way you create your contract Know what terms to include to protect your organization. · How to manage your vendor contract How to avoid pitfalls
Many times, procurement professionals are required to draft or review contracts while not being contract specialists. At the end of a 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 yourself in the way you create your contract 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.
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 Should Attend
- Procurement Professionals
- Compliance Officers
- Accounts Payable staff
- Contract Officers
- Department Managers responsible for contract management
Why Should You Attend
In this webinar, you will learn to draft a standard vendor contract that will assist you in meeting your goals as a procurement professional and meeting the needs of your organization. It will give you an understanding of what standard terms to include in your contracts and what they mean. You will be able to Know the different sections of a contract and how to arrange them:
- Understand standard contract term definitions
- How to prevent creating problems for yourself in the way you create your contract
- Know what terms to include to protect your organization. · How to manage your vendor contract
- How to avoid pitfalls
