The sole purpose of this training course on international contracting management is to give participants a sophisticated set of abilities for handling international contracts. Because businesses must follow various regulatory standards and are governed by different legal systems, international contracting necessitates a varied skill set. The parties involved in international tendering and contractual situations must handle a wide range of extra challenges, including payment, foreign currency exchange, export and import laws, logistics, varying technical requirements, and foreign tax concerns. The project management course at this fast-paced Oxford training center is specifically created to make you aware of the various challenges that come with working internationally.
The participants in an international transaction may have distinct cultures and values. Different sets of governmental requirements must be followed by them. Under various legal systems, they are governed by unique and different laws. The terms and conditions that are enforced locally could not be enforced worldwide, to provide a very simple example. To take these crucial aspects into account, a new strategy and “international outlook” must be integrated into the corporate culture of international contract management.
Objectives and target audience
Objectives
Upon completion of this course in international contract management, participants will be capable of
- Recognize the difficulties caused by fluctuations in foreign exchange rates.
- Create and draft international contracts to lower risk and safeguard the interests of their company.
- Recognize the labor rates in other countries.
- Understand how to locate foreign vendors and the global sourcing process.
- Choose goods and services to source internationally.
- Steer clear of the most typical issues while switching vendors.
- Understand the pros and limitations of the various global sourcing strategies.
Target audience
- Contracts, Projects, and Purchasing Experts
- Professionals in supply management, operations, and maintenance
- Professionals in Engineering and Quality
- Experts in Project Management
- Anyone currently or maybe in the future engaged in sourcing products or services from outside their nation and dealing with moral or legal dilemmas brought on by disparate labor or health and safety regulations, etc.
How will attendees benefit?
- Decreased overall cost of goods, machinery, and services
- Improved results in cross-border transactions
- More output as a result of the timely delivery of high-quality items
- Better performance from suppliers
- Gaining a competitive edge by obtaining the world’s best prices
Course contents
What is global sourcing?
- Why do businesses outsource?
- Motivations for expanding internationally.
- Using international sourcing to break into markets that already exist.
- The procedure for global sourcing.
- Rates of labor abroad.
- Procedure for choosing goods or services for international sourcing.
International sourcing methods
- Purchasing Strategies Using
- Raw Sourcing
- Finding Possible Vendors
- Elucidating Possible Vendors for International Bids
- Managing Diverse Cultures
Developing the landed price
- Pricing issues on International level
- Currency problems.
- Import duties.
- Transportation.
- INCOTERMS.
- Brokers and forwarders.
- Payment terms and methods of payment.
Terms and conditions for international use
- Liquidated penalties and damages
- Guarantees and bonds
- Modifications and differences clauses
- Conclusion of conflict of laws
- Preventing corruption and bribery
International dispute settlement and negotiations
- International discussions
- Administration of International contracts
- Problems with International warranties
- Methods of International dispute resolution
- Enforcement of awards and judgments in a global setting