Effective contract management and strategic procurement are fundamental to the success and profitability of any real estate project. This training course is specifically designed for professionals who want to master the legal, financial, and operational aspects of agreements and vendor relationships. By gaining a deep understanding of contract drafting, negotiation, and administration, you will be equipped to mitigate risks, control costs, and ensure that every project is delivered on time and within budget. This program provides the essential strategic framework for building a transparent and efficient procurement process, positioning you as a leader in project execution and governance.

This comprehensive curriculum offers a practical deep dive into the entire lifecycle of real estate contracts, from initial vendor selection and negotiation to final contract closeout. You will learn how to create legally sound agreements, manage vendor performance, and navigate the complexities of procurement technology. The course focuses on real-world applications, helping you to identify potential legal pitfalls and implement proactive strategies to avoid them. By the end of this program, you will not only be proficient in managing contracts but also be prepared to build a robust procurement system that drives value, enhances collaboration, and protects your firm's assets.

Duration

5 days

Target Audience

• Real estate project managers
• Procurement and supply chain professionals
• Real estate investors and developers
• Legal and compliance officers
• Construction and asset managers
• Financial and accounting staff

Objectives

• Understand the legal principles of contract law in real estate.
• Master the stages of the procurement lifecycle for a project.
• Draft and negotiate legally sound contracts with vendors and partners.
• Implement a robust system for contract administration and compliance.
• Develop a strategic approach to vendor selection and management.
• Identify and mitigate common legal and financial risks in contracts.
• Leverage technology to streamline procurement processes.
• Understand the legal requirements for bidding and tendering.
• Develop a strategic plan for long-term procurement efficiency.

Course Modules

Module 1: Foundations of Real Estate Contracts

• The essential components of a legally binding contract.
• Key contract clauses: scope of work, timelines, and payment terms.
• The difference between a contract and a service level agreement (SLA).
• Understanding contract law principles: offer, acceptance, and consideration.
• The role of legal counsel in drafting and reviewing agreements.

Module 2: The Procurement Lifecycle

• An overview of the entire procurement process from planning to closeout.
• The importance of a clear and transparent procurement policy.
• Developing a scope of work (SOW) and a request for proposal (RFP).
• Evaluating bids and selecting the right vendors.
• Managing the transition from procurement to project execution.

Module 3: Vendor and Supplier Management

• Creating a pre-qualification process for vendors.
• Best practices for managing vendor relationships.
• Developing a vendor performance tracking system.
• The importance of a vendor code of conduct.
• Strategies for resolving vendor-related disputes.

Module 4: Contract Drafting and Negotiation

• A step-by-step guide to drafting a clear and comprehensive contract.
• Key negotiation strategies for securing favorable terms.
• Understanding and managing indemnification and liability clauses.
• The legal implications of breach of contract and remedies.
• Best practices for using digital tools for contract negotiation and e-signatures.

Module 5: Contract Administration and Compliance

• The importance of a contract administration plan.
• Tracking key milestones, deadlines, and deliverables.
• Managing change orders and amendments to a contract.
• Ensuring all parties adhere to the terms and conditions.
• Conducting a contract closeout and final payment.

Module 6: Financial Management in Contracts

• Aligning contracts with project budgets and financial forecasts.
• The role of payment schedules, retainage, and lien waivers.
• Legal requirements for invoicing and payment processing.
• Managing financial risks, including cost overruns and disputes.
• Auditing contracts for financial accuracy and compliance.

Module 7: Risk Management in Procurement

• Identifying common procurement risks: schedule, budget, and legal.
• Strategies for mitigating risk through contract clauses and insurance.
• The importance of due diligence on vendors and partners.
• Managing supply chain risks and material shortages.
• Developing a risk matrix for each contract.

Module 8: Technology in Procurement and Contracts

• An overview of procurement software and contract lifecycle management (CLM) platforms.
• Using technology to automate the bidding and tendering process.
• The role of digital tools in tracking performance and managing documents.
• Integrating procurement systems with accounting and project management software.
• The impact of emerging technologies like blockchain on supply chain transparency.

Module 9: Ethical and Legal Governance

• The importance of ethical conduct in all procurement activities.
• Preventing conflicts of interest and fraudulent behavior.
• Understanding and complying with anti-corruption laws.
• Best practices for data privacy and security in contracts.
• The role of continuous training and legal education in governance.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training.