Global Leaders in Procurement & Negotiations (PSCMInstitute.com)

  • The Global Leader in Negotiations, Procurement and Supply Chain Management
  • California, USA ◆ New Delhi, India ◆ Singapore ◆ Frankfurt, Germany
  • support@purchasingadvantage.com
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Power Secrets of Purchasing Contract Law

  • 6 Lessons
  • 6 Hours
  • 1 Year

Power Secrets of Purchasing Contract Law training consists of six videos that average almost an hour each, plus about 2 hours of offline casework. You’re also going get the Student Handbook that the live attendees received, the course slides in PDF format and a copy of the contract Case Study.

Here is what you will learn:

  • Why you stifle your career by over-reliance on the legal department for legal reviews
  • Why the standard goods and services contract templates often offers you very little protection, and may even hurt you if you don’t make the proper adjustments.
  • How your customers can create legal liability using apparent authority, and what to do about it
  • How your behavior – or your customers behavior – can and will create or modify a contract – and how to avoid it!
  • Why you should never sign a LOI or MOU again and what you should do instead
  • What the difference is between UCC “gap fillers” and Common Law “Last Shot Rule” and why you should care
  • When to use a PO and when to use a long form contract, and what the top “gotchas” are
  • Which clauses MUST be customized to your requirements, or you might have no protection at all!
  • Which contract clauses to make unilateral, and which ones to make bilateral and problems introduced by doing this wrong
  • Why you can get in trouble when a contract clause is in capital letters and what you should do
  • How to save endless heartache negotiating liquidated damages up front in a contract and how to do it
  • Which clauses you want to remove from your contracts – silence can be a good thing!
  • Learn the critical hidden problem when assessing limitation of liability and insurance levels, and what suppliers will do to divert your attention with these clauses
  • Which contract clauses suppliers try to “slip-in” language that they don’t want you to notice
  • Which state’s laws you never want your goods contract governed by, or you will pay the price!
  • What the 4 corners rule is and how it can be your best friend – and why it’s probably your worst enemy right now
  • How your supplier forecasts can create detrimental reliance or promissory estoppel giving your career a huge black eye
  • What one secret clause that isn’t in your contracts now that will save you 75% time in your negotiations, and how to include it
  • How to make sure suppliers almost NEVER ask to make changes to your contract terms, liberating you from the hassle of waiting for the long legal department to approve the redlines
  • What you don’t know about warranties and why a long warranty can still be a terrible warranty, and what to do about it
  • What UCC implied warranties you need to know about that your suppliers want to disclaim
  • Which contract clauses must be written to “survive” the agreement, and which ones are show stoppers
  • What powerful contract secrets will PREVENT supplier performance excursions – relieving you of the frustration of having to respond to them after they’ve already happened
  • Which 3 COMMON purchasing words you should _*never*_ use in communications with suppliers
  • How a seasoned Fortune 50 purchasing director signed a supplier contract that turned into a massive lawsuit and ruined his career; we will review & fix that contract so you never make the same mistakes!
  • What secret clause you can add that will GUARANTEE you are getting the lowest price of any of your supplier’s customers, even if they are spending much more than you are!
  • What one contract clause secret suppliers almost always try to use to give themselves a free pass to not perform, and how to catch them and undo their strategy
  • What it means when you see clauses in ALL CAPITAL LETTERS and what you need to do about them
  • How to handle contract law governance for purchases from international suppliers
  • How to recoup funds left on the table when a contract has been overspent. It’s never too late to get your money back, and we will show you how.

Finally, you will learn how to use your newfound mastery of the Power Secrets of Purchasing Contract Law to catapult your confidence, your capabilities, and ultimately, your career results.