Cookie Notice

We use cookies to make parts of our website work, and to improve your visitor experience.
If you only allow necessary cookies, some features of our website may not work.

More info on the cookies we use

Homepage
Training
Training details

Business and commercial

Commercial risk

Develop solution-based engineering contracts which protect the interests of both parties.

2 days

Next available: London, 06 Mar 2024

Course	Location & Date
Commercial risk

10% early bird discount applied
Hurry! 59 days left

Members:
£1,095.00 £985.50 Plus vat

Non Members:
£1,350.00 £1,215.00 Plus vat

Book now

Summary

Develop solution-based engineering contracts which protect the interests of both parties.

Commercial Risk is aimed at risk management through practical remedies, avoiding any hostilities between contracting parties and a breach of contract resulting in court involvement. It’s about collaboration between the contracting parties to achieve a win-win optimum outcome when risks materialise, and the best outcome is not always possible. It gives the non-breaching party a solution, not just monetary compensation, which is all a court can award, but it also preserves the reputation and demonstrates the professionalism of the breaching party. This ensures that going forward, there is respect between the parties and an on-going working relationship.

This course also emphasises the importance of collaboration between internal stakeholders. Contract writing is a team effort between commercial, legal and technical, project and engineering staff to ensure a signed contract is a lawful as well as a practical, working project document.

Who should attend?

Engineers working towards professional registration and for non-engineers working in engineering organisations, who need to mitigate and manage risk, preserve relationships and reputation and achieve best outcomes.

How will I benefit?

See your role in a broader, more commercial context
Think more strategically when preparing bid submissions or evaluating tenders
Increased likelihood of successfully winning submitted bids and making the right supplier choice
Identify the benefits of time spent at the front end, pre-award, on drafting and negotiating a solid contract to reduce problems later on during the contract management stage
Appreciate the value of good preparation and groundwork, prior to submitting a bid and in advance of a negotiation
Anticipate, identify and manage potential risks, both pre- and post-contract award
Make a greater contribution to the profitability of your projects and contracts
Develop your commercial awareness

Contributes 14 CPD hours

Great course and my first introduction to contract law which showed hidden meaning in a lot my everyday dealings as an engineer.

Matthew Jones BP

Key topics

The commercial environment
Basic principles of English contract law
Process of evaluating obligations, liability and risk in a contract
Express terms – Supplier’s liability
Express terms – Buyer’s liability
Other core express terms
Intellectual property

In-house and bespoke training

Tell us your team's CPD needs and we'll come to you with a specialised training programme, customised for your engineering sector.
Contact our advisors if you need help finding the most appropriate training for your team.

At a glance

Duration:

2 days
Location:

London
CPD Hours:

14
UK-Spec:

C, D, E

Need some help?

Terms & conditions of booking IMechE training

Train your team

Offers and bundles

A range of options to help you maximise your training budget.

More about offers and bundles

Available dates for Commercial risk

2 day course

London: 6-7 Mar 2024 10% discount available until 6 January

London: 23-24 Sep 2024 10% discount available until 23 July

Require a different date or location? Or want to train a group in house?

We can customise any of our courses and deliver them in-house, for your entire team. It could also save you money, especially as you would save travel time.

More about In-house and bespoke training

Register your interest

Members: £1,095 + VAT

Non-members: £1,350 +VAT

Enquire now

Train a group in-house and save

Related courses

1 day course

Understanding intellectual property for engineers

Failure to take IP into account at the appropriate time can prevent a product (or service) getting to market or leave it vulnerable to copying once on the market.
2 day course

Contract law and contract drafting

Dispelling the complexity and misunderstanding around contract law, this course will demonstrate that, provided some basic ground rules are followed, an engineer can make an important contribution in a contract negotiation.
2 day course

Negotiation skills

Successfully develop your skills as a negotiator with internal and external stakeholders using a wide range of tools and techniques, whilst remaining focused on mutually beneficial outcomes.

Train your team

Tell us your team’s development needs and we’ll come to you with a specialised training programme, customised for your organisation.

What options are available?

Off the shelf – we can deliver any of our training courses at your chosen location, providing you with a cost-effective and efficient solution
Tailored courses– our personalised programmes can help you work through issues specific to your team or sector and equip you with the practical tools you need to move forward
Blended programmes – we use a range of delivery methods, development subjects and performance resources to ensure your team have the knowledge and skills they need to help your business thrive

More about in-house and tailored training.