Contract Risk Management and Compliance

Contracts are at the center of most business transactions. While it provides security for both parties, there are a wide range of potential risks present in contracts, such as including inadequate or non-existent clauses pertaining to the treatment of intellectual property (IP) or confidential information, financial obscurities, language resulting in miscommunication, and/or misaligned goals, all of which may cause major damage to a company’s finances or reputation.
 

Managing contract risk is an important part of the contract management process. This enforces the parties to take a step back during the negotiation process to estimate and evaluate their legal exposure, the loss of business opportunities, and the extended time invested in the contracting process.

This training course is designed to provide participants with the essential knowledge, techniques, and strategies for effective management of contract risks while ensuring compliance with existing rules and regulations. 

• Gain a comprehensive understanding of contract risks, how it occurs, and the terms and conditions related to it.
• Discover different Contract types to transfer risks
• Recognize the different methods of identifying and assessing risk.
• Utilize risk management techniques during the life of a contract.
• Manage and deal with financial risks in contracts.
• Select and apply the appropriate remedy for the identified contract risk.