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Description
Unable to fulfill your contractual obligations due to Covid-19? Facing the prospect of paying liquidated damages? Or in financial distress? Risking your deposits or assets forfeited? Then this webinar is for you.
Covid-19 has affected businesses across almost all industries. Disputes could arise in almost every contract that has been impacted by the lack of demand, inability to discharge obligations because of broken supply chains or lack of liquidity to finance operations. Your legal obligations for certain contracts will remain even after the temporary relief prescribed period of 6 months which can be extended up to 1 year under the Covid-19 (Temporary Measures) Act.
Directors and Managers need to respond effectively to Covid-19 disruptions. Problems and disputes will arise and swell in the coming months, as contracting parties reassess their business agreements. What actionable steps can you take in key commercial issues of Covid-19 when the organisation is unable to perform its contractual obligations and financial commitment? Look at the existing contracts to see your own non-performance or the other party’s non-performance.
While legally savvy parties would in their contracts have clauses providing for their rights on the occurrence of unexpected events outside the normal business risk - often called force majeure clauses - many other parties would not have done so. Examine and study what is in your existing contracts, and how to make the best out of your existing contractual agreements.
In this timely webinar, our distinguished presenter will share with you what the possible legal issues will arise, and how you can take practical steps now to mitigate the risks to your organization. Make accurate assessment for next few months on contractual obligations & risks & relationship management in tight cash flow. Be responsible in contract management in the tough Covid-19 environment.
Programme Outline
1. What is your Covid Story & Action Plan?
- Legal implications & response to Covid-19 outbreak
- The 10 Commercial Issues – resilience & business continuity plans
- Risk assessment of contract
- Examine existing contracts
- Force Majeure clause
- Termination for Cause
- Spend threshold or minimum order quantities
- Price changes
- Change in Law – infectious diseases law – Covid-19 pandemic
- Doctrine of Frustration applies under contract law
- Control over cash flow
- Relationship management
- Employees
- Parameters for re-negotiations
- How to deal better with uncertainty
- Key contracts & key terms
- Supplier’s exclusivity & performance requirements
2. Roles & responsibilities of a contract manager
- Drafting skills
- Formalities, structure and format
- Drafting with or without precedents
- Commencing the contractual process
- Relationship building
- Setting Targets, timelines and periodic review
- Defining expectations
- Project Manager – Outsourcing contracts
- Role definition & responsibilities
3. Features of Contract Management
- Contract Management Process
- Contract Administration
- Negotiating & Managing Performance through Service Level Agreements
- Identify issues to be managed
- Establish an effective team
- Lists of services & deliverables expected - Scoping
- Importance of having a well-constructed SLA
- Evaluating & managing contractor performance
- Developing, implementing & measuring Key Performance Indicators to monitor quality of service
- Drive business value to meet company’s goals
- Statement of Works
- Change Orders
4. Managing Contract Performance
- Variations to the existing contract
- Negotiating variations and potential legal pitfalls – Extensions and renewals – effective use of extension and renewal clauses – best practices with regard to notices
- Coping with Covid-19 pandemic without breaching antitrust laws
- Business industry collaborations & combining strengths to manage disruptions in supply & demand
- Completion of works and original expectations
- Reviewing contract specifications and matching with performance
- Withdrawing from the contract – understanding the legalities of wrongful withdrawal
- Termination and post-termination actions
5. Contract Review & Meetings
- Identifying performance issues
- Constructing an Agenda for a meeting
- Setting out specific roles for participants in the meeting
- Anticipating the positions and expectations of the other party
- Managing the meeting process
6. Managing Contract Documentation
- Files and records
- Defensive record keeping for evidential purposes
- Version controls and software
- Document sharing &security
Target Audience
Contract Managers, Contract Administrators, Project Managers, Directors , Business Managers and anyone who is assigned the role of managing contracts and would like to discharge their responsibilities effectively during or post Covid-19 pandemic.
Expert Speaker
Catherine Tay
Catherine Tay has 35 years of experience in lecturing business law at the NUS Business School, where she was formerly an Associate Professor. She is author of more than 20 books, including titles on Contract Law, E-Commerce Law and Infectious Diseases Law & SARS. She has also contributed and published legal articles in established international journals.
Catherine studied law at Queen Mary College, University of London and graduated with a Master of Laws. She did her pupillage under the Honourable Lady Mary Hogg in London. Catherine is an Advocate & Solicitor of The Supreme Court of Singapore and also a Barrister-at-Law (of Lincoln's Inn), United Kingdom. She is a highly sought-after Trainer, and regularly conducts in-house seminars for hospitals, banks, statutory boards, hotels, commercial firms and companies, clubs and associations.