Who Should Attend

Both new and experienced purchasing and supply management professionals seeking to gain a broad understanding of legal concepts affecting purchasing, especially contract law and the UCC.

Completion of this course prepares you for Contracting: What All the Ts and Cs Mean; Contracting for Purchasing and Supply Management Beyond the Basics; and Legal Considerations of Software Licensing and Other Technology-Related Agreements.

You Will Learn...

• How to conduct business legally with suppliers and customers
• Key laws that affect your role as a supply management professional
• Your legal and ethical obligations and liabilities
• Which transactions are governed by what law
• How to identify issues that require professional legal advice
• How to form binding contracts
• The legal impact of the use of electronic communications
• Three major sources of law that affect or control your contracting decisions
• Five elements required for the formation of an enforceable contract
• Four situations that require written documentation of your contractual agreement
• Three types of warranties made available by law
• Two ways in which an agent's actions may be authorized

You Will Earn...

21 continuing education hours

Course Outline

1. Overview of the foundation of contract law, the Common Law, the Uniform Commercial Code (UCC) and U.N. Convention on Contracts for the International Sale of Goods (CISG)
2. What are your duties and obligations as a representative acting on behalf of your organization?; The law of agency is the underlying legal authority for purchasers to do their jobs
3. Exchange of standard purchase and sales order forms and battle of forms
4. Long-term contracts; International contracts
5. Contract enforcement considerations: Various situations arise during the contract formation process that impact the enforceability of contracts
6. Using electronic communication in the contracting process and the legal implications associated with it
7. Contract performance: Once a valid contract has been formed, what are the obligations of the parties in that relationship?
8. Warranties and product liability; Protecting your organization against product liability lawsuits
9. Remedies: Contracts would mean little if there were no consequences when breach occurs
10. Overview of other key laws affecting supply management that you should be aware of: Intellectual property, antitrust and various other federal laws

© Copyright ISM 2013

If you would like to bring this seminar onsite to your organization, please click here.