Drafting Commercial Contracts
Business success largely depends on the successful closing and completion of chosen commercial transactions. With the rapid development of technology and the inevitable need for digital transformation, the successful closing and completion of chosen technology agreements is directly connected to business success. Most often such commercial transactions are pre-agreed between the parties and represent valid commercial contracts.
Commercial contracts can be oral, written, partly written and partly oral or implied based on the conduct of the parties. However, proving the terms of an oral contract is a matter of evidence and can be very difficult when there is nothing in writing to confirm the precise rights and obligations which have been agreed to between the parties. A written contract serves as its own proof that an agreement was made.
The secret of professional contract drafting is to include the necessary substantive provisions that will be drafted by design and not by accident. Strong writing, organizational skills and attention to detail are required by the drafters to translate the business deal into a legal document that will protect the parties’ intentions and interests. Well drafted and effective commercial contracts avoid hidden risks and liabilities and usually lead to successful transaction outcomes. On the other hand, poorly drafted commercial contracts increase the likelihood of claims and disputes often leading to loss of business opportunities and revenue. Therefore, one needs to have the knowhow and make the effort in getting the contract right in the first place.
This intensive course is designed with high-quality teaching techniques following an innovative learning methodology to enable participants to take a detailed look at every element of contract drafting. The course gives participants the required theoretical and practical knowledge and the basic legal and commercial information to improve their drafting skills and enable them to manage contractual pitfalls and draft clear, transparent and unambiguous commercial and technology contracts that conform on a legal and commercial level.
The training course focuses on the structure, terms and conditions of a basic commercial contract and pays particular attention to the importance of contract interpretation as well as providing an overview of the allocation of risk between the parties. Although the course focuses primarily on the general skills and techniques of drafting contracts, it offers particular emphasis on drafting technology contracts as well.
It also briefly discusses the factors influencing the drafting process and allows time for the trainer and the participants to engage in various discussion and drafting attempts and to review certain commercial and technology contract clauses. Participants will also be benefited from tools, techniques and checklists.
|Date||1, 3, 8 and 10 of February 2022|
|Time||13:00 – 16:45 UK Time|
|Price||GBP 625 (excl. VAT)|
By the end of the programme, participants will:
Identify the, and refer to, commercial and technology contracts used in various industries and for various purposes Understand how to draft a basic commercial contract from scratch Recognize, define and analyse the essential elements of a valid and enforceable contract and identify and describe the parties of a commercial contract
Explore the drafting process and contract execution formalities
Understand contractual limitations and exclusion of damages
Be able to manage the risk allocation between the parties to a technology transaction and commercial contract
Understand the use of warranties and indemnities and learn how to draft clauses containing these
Understand how the contract terminates and the effect of force majeure clauses
Understand the boilerplate clauses and learn how to insert them in the commercial contract
Be able to protect the parties in a contract and avoid hidden risks and liabilities
Be able to manage the reviewing and drafting of basic technology transactions and commercial contracts
Explore traditional, electronic and digital signatures and briefly discuss about the eIDAS regulation
Introduction to Commercial Contracts
What are commercial contracts
Types and purpose of commercial contracts with special reference to technology contracts
Reference to and discussion of commercial contracts used in various industries and/or for various purposes
Forming a commercial contract
The Contract Law
The essential elements of a contract
Validity and enforceability
The Drafting Process I
Introduction to the drafting process
Key stages and technical requirements
Figures and formulas
The Drafting Process II
Form and Skeleton Structure
Commencement section and dates
The Parties to the Commercial Contract
Describing the parties
The issue of capacity
Privity of contract
Understanding limits and exclusions of liabilities
Exclusions of damages
Liability for breach of contract
Warranties and Indemnities
What are warranties and indemnities
How to draft warranties and indemnities
Contract Termination and Force Majeure Clauses
Overview of the termination of a contract
Breach of contract and termination clauses
Force majeure clauses (discussion about Covid19)
Effect of force majeure clauses
What boilerplate clauses are
Why and when to use boilerplate clauses
How to insert boilerplate clauses in contracts
Boilerplate clauses’ checklist
Information technology products and services
IT language: An overview of the key technology contracting terms and concepts
Discussing IT contracts
Fundamental legal requirements and the most important aspects to consider
Brief overview of Signatures and eIDAS regulation
Types of signatures: Traditional, electronic and digitized signatures
Advantages of Electronic Signatures
EU Legal Framework: Introduction to the eIDAS regulation
Forms of Electronic Signatures (Simple/Basic, Advanced, Qualified)
Who Should Attend
This course is ideal for those involved in contract negotiating, drafting or reviewing as well as those responsible for auditing, approving, or managing any part/s of the contracts created by the organisation.
Furthermore, the programme may also benefit:
Attorneys of the Republic
Internal Lawyers (working in any legal department of an organization or government)
Legal Services Professionals
Legal Projects Managers
C-Level Executives and Senior Managers in all industries
Private practice lawyers
Legal advisors and consultants involved in contract negotiating, drafting or reviewing
Sales and Business Development Executives and Managers
Project Managers and Associate Project Managers
Managers and personnel responsible for drafting, adapting and using contract templates
Corporate services heads and team members
Web Developers involved in contract negotiating, drafting or reviewing
IT Professionals who enter into contracts
Individuals involved in tendering /contracting functions
Contract Administrators and Contract Strategists
Contracting Unit Supervisors
Claims Managers and Business Audit Officers
General Managers involved in contract negotiation and disputes
Legal Department staff looking for new techniques and an international approach
Anyone involved in the strategy and management of disputes
Contract advisors, managers, officers, and administrators
Industry Expert | Christiana Aristidou
Christiana Aristidou is an industry expert and thought leader who stands above subject-matter expertise and is an authority in her field. She is a passionate educator educating and training regulators, public authorities, incumbents, private organizations of all sizes, investors and entrepreneurs in Cyprus, the EU and internationally. A pioneer in the field of training course design, development and delivery, Christiana creates comprehensive training courses with innovative subject combinations and unique content, falling mainly in the intersection of Regulation, Business Law and Technology.
Christiana is a Business Technology Lawyer, CEO of “The Hybrid LawTech Firm”, empowered by Christiana Aristidou LLC, regulated by the Cyprus Bar Association (membership since 1997). She is the Director of SmartCity Business, a company that aims to create smart laws and business models that can be used by smart cities to assess what value they offer citizens by integrating ICT and emerging technologies into their infrastructure and services, enabling the acceleration of change from smart cities to smart societies. She is also a non-executive Director of Rhea Legal Tech, a company that offers AI, machine learning and automation solutions to the legal, regulatory and supervisory industries.
Christiana is the President of the CBA’s Technology Committee, a National Delegate to the ISO TC/307 Blockchain Committee actively contributing to Working Group 3 drafting standards on Smart Contracts and to Working Group 6 on Blockchain use cases. She is a member of ITU and has served in ITU-FG-DLTs. She is also a Certified International Legal Project Practitioner (IILPM), a member of the PMI Cyprus Chapter, an approved HRD Trainer, the Ambassador of European Legal Technology Association (ELTA) in Cyprus, and a Digital Transformation Specialist. Christiana is a co-founder, and, until recently, the Vice-Chair of the Cyprus Blockchain Association (CBA) which has recently merged with the Cyprus Blockchain Technologies (CBTs). She is currently a board member of CBTs and holds advisory and directorship positions in technology companies. Christiana is a regular speaker at local and international Law and Technology conferences.
Christiana holds a Bachelor’s in Law from the Kapodistrian University of Athens, three (3) LL.M degrees: 1. in Common Law, 2. International Commercial and Business Law (UEA-UK) and 3. Computers and Telecommunications Law (Queen Mary-UoL). She also holds a Certificate in International Commercial Arbitration (Cologne-Germany) and a certificate in Digital Currencies from the University of Nicosia.
The programme is designed to deliver theoretical knowledge and practical experience and enhance participants’ skills mainly via short lectures supported by power-point presentations and practical examples.
The whole training course aims at delineating the main issues while providing the grounds for in-depth deliberation and interactive discussion. The participants will be presented with real life examples of commercial and technology contracts and/or specific clauses and provisions and will benefit from participating in discussions as well as assessment and drafting exercises.
The core of the training course is useful for any framework, since it is mainly driven towards raising the most important principles and issues when drafting or reviewing commercial contracts, including specific technology clauses or provisions, while offering certain fundamental tips.
The trainer takes the opportunity to draw provisions from the common law, Cyprus and EU law, purely to exemplify the interaction between law and contract-drafting and the legal implications thereof. The course will be practical in nature and does not aim to teach contract law; instead, the purpose of the course is to help drafters identify the necessary substantive provisions that should be included in a commercial contract. The main takeaway from the course will be what provisions should be included in contracts by design and not by accident.
Participants will also benefit from feedback based on real-life practise and experience at the end of the programme and take away the knowledge gained to be transferred to their workplace.
This programme may be approved for up to 14 CPD units in Law. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Price - 625
Duration - 14
CPDs - 14