An Interactive 5-Day Training Course

Commercial and Business Contracts

A Practical Guide

Commercial and Business Contracts

Scheduled Dates

12 - 16 Oct 2026
London - UK
$5,950
02 - 06 Nov 2026
Dubai - UAE
$5,950
30 Nov - 04 Dec 2026
Rome - Italy
$5,950
30 Nov - 04 Dec 2026
Online
$4,950
24 - 28 May 2027
London - UK
$5,950
07 - 11 Jun 2027
Barcelona - Spain
$5,950
12 - 16 Jul 2027
Dubai - UAE
$5,950
11 - 15 Oct 2027
London - UK
$5,950
01 - 05 Nov 2027
Dubai - UAE
$5,950
29 Nov - 03 Dec 2027
Rome - Italy
$5,950
29 Nov - 03 Dec 2027
Online
$4,950

Why Choose this Training Course?

The Commercial and Business Contracts training course provides participants with a thorough understanding of the procedures and practices involved in identifying and managing the risks associated with contract formation and administration. Using practical examples and real-world scenarios, this training course explains how to manage contract risks efficiently and support effective contract negotiation and performance. Contracts are essential business tools that help organisations create value, reduce exposure to risk, and avoid costly mistakes. Modern businesses must focus on more than pricing and key commercial terms alone.

Contracts play a critical role in every organisation. A clear understanding of contractual risk and its management is essential for companies and senior professionals. Effective contract management creates commercial and competitive advantages, while a lack of awareness of risk-related provisions can lead to missed opportunities and expensive disputes.

This Petroknowledge Commercial and Business Contracts training course will focus on:

  • Creating contracts and understanding their legal validity and structure
  • Examining key contractual provisions, including payment and non-payment remedies
  • Ensuring contractual obligations are properly performed
  • Understanding liability arising from breach of contract
  • Reviewing dispute resolution methods and key considerations

What are the Goals?

By attending this training course, participants will be able to:

  • Analyse the risks involved in contract creation and management
  • Explain important contract provisions and learn how to manage contractual risk effectively
  • Interpret key contract clauses and understand relevant terms and conditions
  • Strengthen negotiation skills to develop effective contracts that protect organisational interests
  • Identify areas where contractual issues may arise and learn how to prevent or reduce their impact through effective drafting and management
  • Recognise how to avoid disputes and be prepared to address them when they occur

Who is this Training Course for?

This Commercial and Business Contracts training course is designed for professionals involved in negotiating, managing, and administering contracts, as well as those responsible for maintaining contractual relationships within their organisations.

This training course will also benefit:

  • Contract and Purchasing Personnel
  • Project Management Professionals
  • Other employees in corporate or governmental organisations who have a responsibility for drafting, negotiating, or approving contracts.
  • Professionals such as legal and financial staff
  • Any personnel involved or interacting with contracts

How will this Training Course be Presented?

This Commercial and Business Contracts training course encourages active participation through discussions and practical exercises on relevant topics. Presentations are designed to be concise and focused to maintain engagement and encourage involvement. Topics are selected to ensure direct relevance to the business challenges currently faced, or likely to be faced, by participants in their professional roles.

Organisational Impact

Organisations will benefit from:

  • Strengthening the management of contract creation processes
  • Improving contract development and administration practices
  • Enhancing control of transactional and litigation-related risks
  • Achieving greater organisational value through stronger contract performance provisions
  • Reducing costly disputes caused by unclear or unsuitable contract clauses while maximising available benefits
  • Increasing awareness of dispute management approaches that help preserve and strengthen commercial relationships

Personal Impact

Participants will gain:

  • A stronger understanding of the contracting process
  • Greater ability to manage and control contract activities
  • Improved awareness of the significance of key contractual clauses
  • Better understanding of risk allocation within contracts
  • Enhanced contract management and administration capabilities
  • Improved skills for avoiding costly contractual disputes

Daily Agenda

Day 1: How Contracts are Created
  • Quantifying Risks
    • The Benefits of Understanding Contracts
    • The Pitfalls of Getting It Wrong
  • Controlling the Contract Process
    • Understanding the Deal
    • Controlling the Negotiation
  • Contract Formation
    • Offer and Acceptance
    • Battle of the Forms
    • Consideration and Intention
    • Does a Contract have to be written?
  • Pre-contractual Issues and Documents
    • Due Diligence, Permits, and Financial Stability
    • When are you committed?
Day 2: Controlling the Contracting Process

  • Auctions, Bids and Tenders
    • Invitations to Tender and Treat
    • Heads of Terms and Letters of Intent
    • Bonds and Guarantees
    • Standby Letters of Credit
  • Form of Agreement
    • Contractual Structures
    • Incorporating Standard Terms of Business
  • Informal Contracts
    • Letters of Comfort
  • Subcontracts and Warranties
Day 3: Key Contract Clauses

  • Pre-contracts and Post Contract “qualification phrases”
    • Subject to Contract
    • Without Prejudice
    • Subject to Client Comment
  • Securing Payment
    • Payment Obligations
    • Non Payment Remedies
    • Letters of Credit
    • Guarantees
  • Delivery, Ownership and Risk
    • Time and Place of Delivery
    • Late and Failed Delivery
    • Damage in Transit
    • Ownership and Acceptance
    • Transfer of Title and Risk
    • Retention of Title
    • Time of the Essence
  • Liquidated Damages
Day 4: When Things Go Wrong

  • Contract Liability
    • Managing Liability
    • Limits of Liability
    • Damages
    • Insurance and Indemnities
  • Product Liability
    • How a Claim is Brought in Contract
    • How a Claim is Brought in Negligence
    • Practical Risks
  • Frustration of a Contract
    • Force Majeure
  • Notices and Service
  • Entire Agreement & Waiver
  • Interpretation and Signing
    • Authority to Sign a Contract
    • Power of Attorney
  • When do Contracts End?
    • Termination / Discharge
    • Transfer
    • Variation
    • Mistake
Day 5: Disputes and Compliance

  • Choice of Law
  • Choice of Dispute Resolution
    • Negotiated Settlement
    • Litigation
    • Arbitration
    • Mediation, Adjudication, and Experts
  • Settlement Issues
    • Enforcement of Judgements and Awards
    • Jurisdiction
  • The Importance of Business Integrity
    • Bribery
    • Corruption
    • Money Laundering
    • Competition Law

Certificate

  • Upon successful completion of this training course, delegates will be awarded an official PetroKnowledge Certificate of Completion, signed by the course facilitator. The certificate confirms successful participation and records the total learning hours completed.
  • Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.

Accreditation

NASBA Approved Training Courses

Would an alternative date be more suitable?

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