International Contracting: Global Sourcing, Selecting Contract Clauses & Successful Completion
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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 separate and distinct laws under disparate legal systems. So, to take a very basic example, the Terms and Conditions which are applied locally may not be enforceable internationally. Thus a new approach and an “international outlook” is required to be incorporated into the company ethos to take account of these important factors.
In addition to tendering and contractual issues which can arise in domestic transactions, the parties must also learn to deal with all manner of subjects in the international context, such as 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 which are involved when one has to work in 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.
The highlights of the seminar are as follows:
- International Sourcing Methods
- Selecting the Appropriate Contract Clauses
- Developing Delivered Prices for International Transactions
- Locating International Suppliers and Contractors
- Methods of Providing Currency Protection
- International Labour Rates
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 reduce risk
- International Labour Rates
- The global sourcing process and methods of finding international suppliers
- 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.
Participants will increase competencies through a variety of instructional methods including lectures from an experienced practitioner and consultant, hands on practical exercises, seminar work, team work, and group discussions covering current practices and their relationship to the implementation of new concepts. A supportive comprehensive course manual enabling practical application and reinforcement is provided.
Attendees are encouraged to bring real problem examples with them, for discussion on a confidential basis, and to share their experience of particular issues in their company or industry.
The organization will benefit by:
- Reduced total cost of purchased material, equipment, and services
- Better outcomes in international transactions
- Greater productivity resulting from quality goods arriving on time
- Improved supplier performance
- Competitive advantage by getting the best values in the world
Attendees will gain by participation in this program as a result of:
- Increased skill sets in International Contracting and Global sourcing
- Broadening of knowledge base as a result of international dealings
- A greater sense of confidence and professionalism
- Greater ability to obtain desired outcomes in global sourcing initiatives
- Increased recognition by the organization due to improved performance
Day1 - Why Global Sourcing?
- Why Organizations Outsource
- Reasons For Going Global
- Using Global Sourcing To Penetrate Existing Markets
- The Global Sourcing Process
- International Labour Rates,
- Process For Selecting Items Or Services for Global Sourcing
- Risks, including quality standards, impact on local suppliers in your own country, and ethical problems arising from differing labour or health and safety standards etc.
Day2 - Global Sourcing Approaches
- 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
Day3 - Developing The Landed Price
- International Pricing Issues
- Currency Issues
- Import Duties
- INCOTERMS – how they impact on price and risk
- Brokers & Forwarders
- Payment Terms And Methods Of Payment
Day4 - International Terms & Conditions
- Convention On Contracts For The International Sale Of Goods (CISG) and why these do not always apply
- Sources For Standard Terms And Conditions
- The Critical Integration or Entire Agreement Clause
- Liquidated Damages/Penalties
- Bonds And Bank Guarantees and Letters of Credit
- Changes and Variations Clauses
- Conflict Of Laws And Choice Of Law Clauses
- Suspension And Termination
- Acceptance Clauses
- Contract Clauses and pratices that Assist In Prevention Of Fraud & Corruption
Day5 - Negotiations, Resolution of Disputes, And Completion
- Negotiations Internationally
- International Contract Administration
- Verification of performance of obligations
- Warranty Issues
- Dispute Resolution Clauses
- Enforcement of judgments and awards in an international context
Who should attend
- Purchasing, Projects and Contracts Professionals
- Supply management, operations, maintenance Professionals
- Engineering, Quality, and other activities that involve them or their staff in locating and dealing with suppliers around the world.
- Anyone who is now, or may be in the future, involved in sourcing goods or services outside their own country.