Contracts in an International Market

Course Description

Global sourcing is a now the usual method of getting your costs down. Value for money and “value added” are now demanded from management in all companies and corporations. How is this achieved? Never before has the responsibility of the contracting and procurement departments been so onerous. Are we getting best value? Are we getting best price? Should we be seeking both or one or the other?

We now live in a global market and your competition and your potential customers know that. Procurement departments need to develop the strategies to maximise your organization’s potential. In-country agents, out-of-country suppliers, business relationships with parties all over the globe mean your personnel must have additional skill sets in the global sourcing process and international contracting.

What is challenging with that is that not all countries have the same legal system, laws and regulations. Terms and Conditions which are applied locally may not be internationally enforceable. International norms may not be applicable in the domestic territory of your supplier, customer or agent. Added to this are the complications of international logistics, currency movements, foreign fiscal applications and payment and interest provisions.

This course has been specially written for those who have international contractual responsibilities and who need a better understanding of how contracts operate in the international arena. It provides an introduction to the area of Global Sourcing and International Contracting, which will alert you to the many issues involved.

Who will benefit

• Anybody seeking a clearer understanding of international contracts’ terminology and contract terms and conditions and the challenges faced in international sourcing
• Anybody wishing involved in working with suppliers, customers, agents, or any other party over international boundaries
• Anybody looking to understand the legal rationale behind their contracts in order to make better business decisions

Why you should attend

Contracts are the underpinning of all business relationships and are at the centre of your organization’s day to day operation. Value for money is imperative

• Basic awareness of contract operation is now regarded as a core competency
• Contracts become easier when the jargon is understood
• You will feel confident when discussing legal contractual issues with colleagues
• You will feel confident in putting your ideas across in a language that your legal department will understand
• You will appreciate the nuances that often underlie contractual terms and conditions
• This should result in greater productivity resulting from quality goods arriving on time
• You will understand the particular challenges and problems faced in the international sourcing market.
• You will anticipate improved supplier performance
• You will profit your organization by securing a competitive advantage by getting the best values in the world

Key topics

• Challenges Presented By Foreign Currency Exchange Rate
• Drafting And Developing International Contracts To Mitigate Risk
• Understanding International Labor Rates
• The Global Sourcing Process.
• What to look for in Global Sourcing.
• Avoid The Most Common Problems with Suppliers
• Different Methods with Global Sourcing and the Pro’s and Con’s
• How do you source International Suppliers?
• Determining the “Delivered Price”
• Understanding INCOTERMS
• Problems with payments and the LC

Course details

• Blended learning using internet searches, videos, workshops, group sessions, and “edutainment”!
• Accelerated learning techniques to improve understanding and long-term retention
• Contracts considered from a non-legal perspective, not a lawyer’s.
• In depth analysis of contract “t’s and c’s”

Course Duration: 3 Days