Commercial Contracts Practice Exam
Commercial Contracts
A commercial agreement is a lawfully official understanding between at least two parties. Most of the time, commercial contracts come as composed documents, yet they can also be verbal agreements in specific situations.
Skills Required
• Cooperation. Strong cooperation skills are the bedrock of solid agreement the board. ...
• Profundity OF BUSINESS KNOWLEDGE. ...
• Correspondence and PROJECT MANAGEMENT. ...
• Arrangement. ...
• Meticulousness and STRONG UNDERSTANDING OF AGREEMENTS.
• Profundity OF BUSINESS KNOWLEDGE
• Capacity to break down and decipher monetary information
• Capacity to get ready monetary reports, statements, and projections
• Capacity to dissect and solve problems.
• Information on acquirement rules and regulations. Capacity to settle on procedural judgments and decisions.
Career Opportunity
• Contract Specialists
• Contracts Manager
• Contract Administrative Assistants
• Contracts Engineer
Table of Content
Formation OF COMMERCIAL CONTRACTS
• Ingredients of a legitimate agreement - offer, acknowledgment and consideration Authority to sign contracts How to structure the agreement and use of syntax and language selection Procedural requirements for co
REMEDIES FOR BREACH/EVENT OF DEFAULT
• How is a break recognized or proclaimed?
• Consequences of break of representations and warranties clause
• Most normal defenses to penetrate
HOW TO DRAFT A COMMERCIAL CONTRACT?
• Configuration and structure of a business contract
• Instructions to specify obligations
• Normal drafting errors and effective drafting techniques to limit risk of disputes
• Sample record
Usable CLAUSES IN A CONTRACT
• Focus point
Instructions to DRAFT RISK MITIGATION CLAUSES
• Guarantees - Promoter Guarantee, Corporate Guarantee, Performance
• Ensure, Parent Company Guarantee
• Insurance Clauses
• Repayment Clauses
• Constraint of Liability clauses
Instructions to DRAFT BOILERPLATE CLAUSES
• Title, recitals, definition clause
• Translation
• Notice and Communication
• Waiver, Amendment and Variation
• Severability
• Licensed innovation
• Repayment
• Assignment Joint and Several Liability
• Power Majeure
• Classification, non-contend, non-solicit, exclusivity clauses
• Discretion, Choice of Law and Jurisdiction
• How and when to customize standard clauses
• Focus point
• Sample design for every standard clause
KEY COMMERCIAL CONTRACTS
• Prime supporters Agreement
• Partnership Agreement
• Work Agreement
• Non-disclosure Agreements
• MOA and AOA
• ECB Facility Agreement
• Trust Deed
• Shareholders Agreement
• Franchising and Licensing Agreement
• Work and consultancy arrangement
• Joint endeavor arrangement
• Terms and conditions for an item or a service
• Service level understanding
• Purchase and supply agreements
• Franchisee and licensing agreements
• Shareholders' understanding
• Lease and lease agreements
• Term advance agreements
• Government contracts
HOW TO EFFECTIVELY NEGOTIATE CONTRACTS?
• Recognisable proof of commercial expectation
• Reasonable case studies on exchange (for example Steve Jobs' exchange)
• Important point
• Checklist for contract exchange
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