Managing the Contract Financials

This training workshop considers the “Financials” in contracts – particularly pricing and underpinning issues around costs. We will look at pricing models where suppliers base their prices on direct and indirect costs and others where market-based issues drive the price. Many contracts require either or both parties to secure their performance with a bond or guarantee. When things go wrong one side may make a financial claim or seek a time extension.

• Cost & Price analysis
• Bonds, Guarantees and warranties
• Managing payments
• Managing claims

This training workshop is suitable for:

• Contract Engineers
• Contract Analysts
• Commercial advisers
• Inhouse legal advisers
• Company Secretaries
• Procurement team members
• General managers
• Executives tasked with managing contracts.
• Contract Administrators
• Anyone who wishes to have a good understanding and develop the ability to apply the terms and conditions of a contract.

Upon completion of this training workshop, you will be able to:

• Differentiate between prices and costs and discuss the different approaches to constructing a price.
• Explore the merits of security to support a contract, including performance bonds and advance payment guarantees.
• The management of claims for increased payment or extra time to complete the work is a major element of contract management.