Managing Contractual Liabilities:
Using Indemnities and Insurance

Every commercial transaction involves risk, but your organization can mitigate it by clearly defining, in the contract, the nature, scope, and consequences of both your actions and the other party's. Contracts establish various liabilities, as both parties assume rights, responsibilities, duties, and obligations—however, these can be managed through contractual provisions.

This Managing Contractual Liabilities training course explores how your organization can identify and handle critical contractual risks and liabilities—what they are, their meaning, the potential consequences, who assumes the risk, and who bears the cost. It focuses on the best strategies for addressing key contractual liability issues to minimize both financial exposure and reputational damage.

This training course will feature:

• Nature of contracts and contracting structures
• Principal contractual liabilities
• Managing risk through indemnities
• The purpose of insurance, types and limitations
• Using contract provisions to reduce the risk of disputes

By the end of this training course, participants will be able to:

• Identify when a contract becomes legally enforceable
• Assess and manage key contractual liabilities
• Analyse the way indemnities operate across industries
• Evaluate the need and use of different types of insurance
• Compare ways of dealing with claims and disputes

This training course will benefit a wide range of personnel involved with contracts and project management, purchasing, supply and procurement, and will greatly benefit:

• Contracts Engineers
• Project Managers
• Procurement and Purchasing Staff
• Finance and Audit Professionals
• Anyone involved in the management of risk

This Managing Contractual Liabilities training course will use a variety of proved adult training techniques to ensure maximum understanding, comprehension and retention of the information presented. It will include high levels of participant discussion, group interaction, group exercises and case studies. Delegates will be encouraged toraise their own issues and challenges faced within their industry or organisations for discussion.