Types of Contracts and Their Characteristics Training Course

Types of Contracts and Their Characteristics Training Course

This intensive five-day training course is designed to provide participants with a comprehensive understanding of the diverse types of contracts encountered in legal and business contexts, along with their key characteristics, essential elements, and practical implications. Participants will gain the ability to identify, analyze, and differentiate between various contractual forms, understand their specific features, and appreciate the legal nuances associated with each type, enabling them to navigate contractual agreements with greater confidence and expertise.

The course will cover a wide range of crucial topics, including the fundamental elements of a valid contract, classification of contracts based on different criteria (e.g., formation, performance, parties involved), detailed examination of specific contract types such as sale of goods agreements, service agreements, employment contracts, lease agreements, intellectual property agreements, loan agreements, insurance contracts, agency agreements, partnership agreements, and construction contracts. For each contract type, the course will delve into its unique characteristics, common clauses, potential risks, and legal considerations. Through interactive discussions, case study analyses, and practical exercises, participants will develop a robust understanding of the intricacies of different contractual arrangements.

Who should attend the training

·       Legal professionals

·       Contract managers

·       Procurement officers

·       Business owners

·       Project managers

·       Sales and marketing professionals

·       Finance professionals

·       Anyone involved in drafting, negotiating, or managing contracts

Objectives of the training

·       Understand the essential elements required for a valid contract.

·       Learn the different classifications of contracts based on various criteria.

·       Gain a detailed understanding of the characteristics of sale of goods agreements.

·       Understand the key features and legal aspects of service agreements.

·       Learn about the specific clauses and legal considerations in employment contracts.

·       Understand the characteristics and legal implications of lease agreements.

·       Gain knowledge of intellectual property agreements and their unique features.

·       Understand the terms and legal aspects of loan agreements and insurance contracts.

·       Learn about the principles and characteristics of agency and partnership agreements.

·       Understand the key features and legal considerations in construction contracts.

Personal benefits

·       Enhanced ability to identify and understand different types of contracts.

·       Improved skills in analyzing the key characteristics of various contractual agreements.

·       Increased confidence in drafting, negotiating, and managing different contract types.

·       Greater awareness of the legal implications and potential risks associated with various contracts.

·       Expanded professional knowledge in contract law and commercial transactions.

Organizational benefits

·       Improved contract management processes and reduced contractual risks.

·       Enhanced ability to negotiate favorable terms in different types of agreements.

·       Better understanding of legal obligations and rights under various contracts.

·       Increased efficiency in handling diverse contractual arrangements.

·       Minimized potential for disputes arising from a lack of understanding of contract types.

Training methodology

·       Interactive lectures and presentations with real-world examples

·       Group discussions and comparative analysis of different contract types

·       Case study analysis of landmark cases related to various contracts

·       Practical session: Identifying the essential elements in sample contract clauses.

·       Drafting exercises for specific clauses in different types of contracts

·       Practical session: Analyzing the key characteristics of a provided service agreement.

·       Review and discussion of standard form contracts

·       Practical session: Comparing the terms of different lease agreements.

·       Role-playing scenarios involving contract negotiation for different agreement types

·       Practical session: Identifying the unique aspects of an intellectual property agreement.

 

Course Duration: 5 days

Training fee: USD 1300

Module 1: Fundamentals of Contract Law

·       Definition and essential elements of a valid contract (offer, acceptance, consideration, intention to create legal relations, capacity, legality)

·       Classification of contracts based on formation (express, implied, quasi-contract)

·       Classification of contracts based on performance (unilateral, bilateral, executed, executory)

·       Classification of contracts based on validity (valid, void, voidable, unenforceable)

·       Understanding the principles of freedom of contract and sanctity of contract

·       Practical session: Identifying the essential elements in sample contract clauses.

Module 2: Sale of Goods Agreements

·       Definition and characteristics of sale of goods contracts

·       Formation of sale of goods contracts (offer, acceptance, delivery, payment)

·       Transfer of property and risk in sale of goods

·       Implied terms in sale of goods contracts (e.g., quality, fitness for purpose)

·       Remedies for breach of sale of goods contracts

·       Practical session: Analyzing the terms and conditions of a standard sale of goods agreement.

Module 3: Service Agreements

·       Definition and scope of service agreements

·       Key clauses in service agreements (scope of work, performance standards, payment terms, term and termination)

·       Implied obligations of service providers

·       Liability for defective services

·       Intellectual property rights in service agreements

·       Practical session: Analyzing the key characteristics of a provided service agreement.

Module 4: Employment Contracts

·       Definition and essential terms of employment contracts (job description, remuneration, working hours, benefits)

·       Types of employment contracts (fixed-term, indefinite-term)

·       Legal obligations of employers and employees

·       Termination of employment and related legal issues

·       Confidentiality and non-compete clauses in employment contracts

·       Practical session: Identifying the specific legal requirements in a sample employment contract.

Module 5: Lease Agreements

·       Definition and types of lease agreements (residential, commercial)

·       Key clauses in lease agreements (term, rent, maintenance, permitted use, termination)

·       Rights and obligations of landlords and tenants

·       Assignment and subletting of leases

·       Remedies for breach of lease agreements

·       Practical session: Comparing the terms of different lease agreements.

Module 6: Intellectual Property Agreements

·       Licensing agreements for patents, trademarks, and copyrights

·       Assignment of intellectual property rights

·       Confidentiality agreements (NDAs) related to IP

·       Franchise agreements involving IP rights

·       Research and development agreements with IP considerations

·       Practical session: Identifying the unique aspects of an intellectual property agreement.

Module 7: Loan Agreements and Insurance Contracts

·       Characteristics and key terms of loan agreements (principal, interest, repayment schedule, security)

·       Types of loan agreements (secured, unsecured)

·       Essential features of insurance contracts (premium, coverage, exclusions, conditions)

·       Types of insurance policies (property, liability, life)

·       Principles of insurance law (indemnity, insurable interest)

·       Practical session: Analyzing the key terms of a standard loan agreement.

Module 8: Agency Agreements

·       Definition and types of agency relationships (agent, principal, third party)

·       Creation of agency (express, implied, ratification)

·       Authority of agents (actual, apparent)

·       Duties and obligations of agents and principals

·       Termination of agency agreements

·       Practical session: Identifying the elements of an agency relationship in a given scenario.

Module 9: Partnership Agreements

·       Definition and characteristics of partnership agreements

·       Formation of partnerships and key terms of partnership deeds (capital contribution, profit sharing, management responsibilities)

·       Types of partners and their liability

·       Fiduciary duties of partners

·       Dissolution of partnerships

·       Practical session: Analyzing the key clauses in a sample partnership agreement.

Module 10: Construction Contracts

·       Types of construction contracts (fixed price, cost-plus, time and materials)

·       Key clauses in construction contracts (scope of work, payment terms, timelines, variations, defects liability)

·       Risk allocation in construction projects

·       Performance bonds and guarantees

·       Dispute resolution mechanisms in construction contracts

·       Practical session: Identifying the key risk allocation provisions in a construction contract.

Requirements:

·       Participants should be reasonably proficient in English.

·       Applicants must live up to Armstrong Global Institute admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254725012095 / +254724452588

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.

2. Invoice: We can send a bill directly to you or your company.

3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2. Participants may cancel attendance 14 days or more prior to the training commencement date.

3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588

 

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