Course Description

Increasingly complex contracts and procurement structures often make it difficult to fully appreciate risk allocation and its implications. Prevention is better than cure. Late delivery, defects and cost overruns, damage to reputations, client relationships and the bottom line, can all be reduced or avoided through risk management. Unforeseen changes often occur to the design and scope which can cause further calls to increase investment. Risk management and Indemnification and liabilities provisions are a critical piece of almost every contract, but they often receive too little attention during the negotiation process, they are not often given the priority it deserves, which can lead to costly consequences.

This course is intended to provide a good grounding in the essentials of contracts risk management and addresses the basics of indemnity and liability provisions in the contracts.

Course Goal

To enhance the participants’ knowledge, skills and abilities necessary to understand different contract structures and detail contract clauses specially those of indemnity and liability.

Course Objectives

By the end of this course, participant will be able to:

• Be familiar with contracts topology and International contracts forms.
• Be familiar with contract structures.
• Identify the difference between indemnity clauses and exclusion clauses and limitation of liability clauses.
• Identify the difference between indemnity and guarantee.
• Understand contractual liabilities.
• Understand exclusion clauses.
• Identify when to terminate the contract.
• Determine the consequences of termination.
• Deal with disputes in oil and gas contracts.

Who Can Benefit

• In-house lawyers.
• Procurement managers.
• Contract managers.
• Contract analysts.
• Contract engineers.
• Contractors and sub-contractors.