Quodrat

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  • Program Name

    Contractual Risk, Insurance and Indemnities

  • Duration

    5 days

Description

In every organization, care is taken to manage risks by seeking to eliminate those that can be removed and reducing and managing the remainder. Part of this process involves developing robust contracts which apportion risk equitably and include a structure of indemnities with contractors, supported by a comprehensive insurance regime. In addition, it is important that contract personnel understand contractual risks and what insurance can (and cannot) do to remove the financial consequences of such risk; remembering always that insurance only mitigates the effect of risk, it does not make the risk itself go away.

Objectives

  • To provide a more in depth understanding of the elements of a contract
  • To understand how to analyses complex contact documents, and the inter-relationship between clauses
  • To understand how to develop effective indemnity regimes
  • To understand the different types and forms of indemnities in different contracts
  • To understand how to use indemnities to manage risks
  • To understand the limitations of indemnity clauses
  • To understand how to link indemnity and insurance arrangements
  • To understand what types of insurance are available in a contracting context
  • To understand how to develop insurance clauses
  • To be aware of the latest thinking in dispute resolution techniques