International Contracts Law
Course End Date:
Getting the greatest value for every dollar spent has become a common business imperative that has resulted in a dramatic increase in global sourcing. Today’s Contracting and Procurement Expert must know the answer to the question, “Are we getting the best value in the world for what we are buying?”. With major competitors from all over the world and potential customers in every part of the globe, the answer is critical to the strategies of your organization. When the answer results in the selection of out-of-country suppliers, procurement and contract personnel must have additional skills sets in the Global Sourcing Process and International Contracting to successfully accomplish the objectives of the organization.
In international transactions, the parties may have different values and customs; they have to adhere to different sets of governmental regulations and are subject to distinct legal systems with unique laws. For example Terms and Conditions which are applied locally may not be enforceable internationally. In addition to all of the same tendering and contractual issues that arise in domestic transactions, the parties must also learn to deal with international logistics, export and import regulations, differing technical standards, foreign tax issues, payment, and foreign currency exchange. This fast paced seminar is an introduction to the area of Global Sourcing and International Contracting, designed to alert you to the many issues involved when you enter into the international arena. Those who know how to deal with these issues have added a rich, exciting, and challenging aspect to their career as well as reduced operating costs for their organizations.
Upon completion of this seminar, participants will know:
• Challenges Presented By Foreign Currency Exchange Rates
• How To Draft And Develop International Contracts To Protect Your Organization's Interests and
• International Labor Rates
• A Global Sourcing Process.
• How to Select Items and services for Global Sourcing.
• How To Avoid The Most Common Problems In Changing Suppliers
• Different Approaches To Global Sourcing And The Benefits And Disadvantages Of Each.
• Methods Of Finding International Suppliers
• Delivered Price Determination for International Transactions
• Common Payment Methods in International Transactions.
Who Should Attend:
Professionals involved in purchasing, projects, contracts, supply management, operations, maintenance, engineering, quality, and other activities that involve them or their staff in locating and dealing with suppliers around the world.
Why Global Sourcing?
• Why Organizations Outsource
• Reasons For Going Global
• Using Global Sourcing To Penetrate Existing Markets
• The Global Sourcing Process
• International Labor Rates,
• Process For Selecting Items Or Services for Global Sourcing
Global Sourcing Approaches
• Sales Offices Of Global Suppliers
• In Country Based 3rd Parties
• Overseas Sourcing Agents,
• International Purchasing Offices,
• Going Direct
• Identifying Potential Suppliers,
• The Preliminary Interest Request.
• Qualifying Potential Suppliers
• International Tenders
• Dealing With Other Cultures
Developing The Landed Price
• International Pricing Issues
• Currency Issues
• Import Duties
• Brokers & Forwarders
• Payment Terms And Methods Of Payment
International Terms & Conditions
• Convention On Contracts For The International Sale Of Goods (CISG)
• Sources For Standard Terms And Conditions
• The Critical Integration Clause
• Liquidated Damages/Penalties
• Bonds And Bank Guarantees
• Changes Clauses
• Conflict Of Laws And Choice Of Law Clauses
• Suspension And Termination
• Acceptance Clauses
• Contract Clauses That Assist In Prevention Of Fraud & Corruption
Negotiations, Resolution of Disputes, And Completion
• Negotiations Internationally
• International Contract Administration
• Prior To Shipment Checklist
• Export Checklist
• Shipping And Import Checklist
• Warranty Issues
• Dispute Resolution Clauses