Today, organizations are losing its annual revenue per year due to contract mismanagement. According to a survey conducted by International Association for Contract & Commercial Management (IACCM), 27% of the companies experience a significant claim or dispute on 10% or more of their contracts. These generally arise from variations in contract scope, weaknesses in contract change management, and performance failures due to over-commitment. More than ever, this represents a major economic cost for both the company and its trading partners resulting to costly litigation.
- GlaxoSmithKline fined $490 million by China for bribery (September 2014)
- Atos was fined £30 million for errors in its delivery of the UK work capability assessments (June 2014)
- Outsourcing firm Serco repay the Ministry of Justice £68.5 million after overcharging on its contract to provide electronic tagging for offenders (December 2013)
- Verizon has 24 instances of misconduct for which it incurred $477.5 million in penalties from the US government (1995-2013)
- SAIC paid more than $500 million to resolve alleged fraud occurring on a contract with New York City (2012-2013)
To protect your organization from long and costly litigation brought by poor contract management, this course will expose you with essential skills and techniques to safeguard your company from future risks and liabilities. Throughout this highly interactive course, you will discover how to use counter claims to safeguard your interests when claims arise and you will learn how to implement and manage contract variations successfully to avoid disruptions and delays in your contracts. In addition, you will identify the causes of disputes and know how to utilize dispute management and negotiation strategies to protect your company from potential law suits.
To be led by an internationally-accredited legal expert with more than 30 years of extensive experience in commercial and contractual law, the trainer will not only educate you with law and regulation, he will also enlighten you on the commercial issues relating to change management, contract variation and dispute resolution through real-life case studies and hands-on exercises.