- Location: Petro Tech
Course details
In this program you will learn about...
In Every Project or Works Contract there lies the possibility for disputes due to varied interpretations, different trade meanings, discrepancies and ambiguities in Contract Documents. Those drafting contracts often lack knowledge of Technology, Methods and Practices of the Industry.
Risk Reduction by Planned Risk Transfer is the single most important purpose of this program. Past participants have reported great benefits they achieved on their projects and contracts using the analysis and methods introduced in this program.
Drafting Contracts from the viewpoint of risk transfer involves an integration of Law, Methods, Practice and Technology. Useful inputs are possible from properly informed Engineers to Lawyers.
Program Content
Duties Responsibilities of the Parties to Project Contracts.
Understanding Contract Conditions. Expressed and Implied Contractual Responsibilities.
Changes Doctrine.
Notice Requirements including when waived.
Responsibilities of Contractor, Owner and Consultant on the Project.
What is "Fair and Reasonable"?
How do Claims Arise? Legal Basis. How can these be reduced?
Contracting Methods and Associated Risks:
- Letter Contracts
- Material Purchases
- Labour Supply Contracts
- Service Contracts
- Package Deals, Turnkey Design Build,
- Traditional Single General Building Contractor or Engineering Contractor,
- Construction Manager Method,
- Phased Construction: Multiple-Prime Contractor, Fast Track Contracting.
- BOOT
- Technology Purchase and Consultancy Contracts
- Financial Risks on the different contracts.
How Risks are transferred.
- What Risks can not Normally be Transferred?
- Means of Co-ordinating.
- When Risk Transfer is Really Complete?
Transferring Specific Risks:
- Co-ordination of Contractors on Site,
- No- Damage-For- Delay-Clause,
- Project Schedule,
- Liquidated Damages,
- Unforeseen Site Conditions,
- Variation Orders,
- Right to Terminate,
- Dispute Resolution,
- Keeping appropriate Records,
- Inspection of Works,
- Safety,
- Price Fluctuations,
- Exceptional Weather Conditions.
Special Problems with Engineering-Contractor and Consultant Contracts.
Drafting Contracts Guidelines and Checklists.
Available Standards Resources for the Drafting Professional
Case Studies are discussed throughout the Program.
Updated on 04 July, 2016Course Location
About PetroTech
Knowledge
The adage that “knowledge” is power holds very true in this industry. In order to maximize results we are constantly updating and upgrading ourselves. This commitment to ongoing skills development is one of the reasons we are success, the belief that there is a “better way to do things” is what motivates us each and every day. By aligning with us you are going to benefit from our years of expertise in real world scenarios. Classroom learning is great but there is no substitute to real world experience which is what we are bringing to the table.
Quality
Billionaire investor Warren Buffett said “price is what you pay but quality is what you get” and that expression is very true. With use we understand that your time is very valuable and you only want the best and most current industry related knowledge which is what we bring to the table. Instead of giving you massive amounts of inaccurate or outdated information you get precisely what you want, the most current knowledge so you can make truly informed decisions that will directly impact productivity and your bottom line. When results are what you are looking for then the choice is clear, we are your partners in success.
Innovation
Technology has revolutionized the way knowledge is disseminated in throughout the world, what use to take months or even years to reach the masses can be done in a few hours ! In order to remain relevant and viable we need to embrace innovations. The challenge with innovation is knowing when to implement it and what type of return you can expect from it. Instead of risking your time and resources we have the answers for you, Since we are at the vanguard of the industry whenever there is a fruitful innovation we will be there providing you with the information needed to make the right decision.
Respect
We understand you may have unique need so we provide a tailored made (bespoke for our U.K. friends) approach that will address your questions in the most conducive manner possible. Respect to us means putting your interests, your needs at the forefront of our mind. You will see how genuine we are and that you not just “some customer” you are our partner in success just as much as we are your partner in success. We firmly believe in the “golden rule”, treat others with graciousness, courtesy and respect. Come experience the difference that quality and respect makes and you will truly be amazed.
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