Everything To Know About Contract Administration Course

Everything To Know About Contract Administration Course

Contract Administration Course seeks to effectively manage an agreement between two parties to achieve mutual benefit. This discipline is particularly important in the Infrastructure Contracts for Industrial, Energy, Mining, and Road Works Projects.

The general objective of the Contract Administration Course:

Through this Contract Administration Course, the participant will be able to know the background and documents that make up a work contract, acquisition of goods, commercial or professional service. Also, know the guarantees required by law associated with contracts, handling of advances, assignments of the contract, modifications in the budget and applicable execution period, price adjustment mechanisms (polynomial or escalation formulas), attributions and duties of the parties regarding supervision and inspection, valuations and payments to the contractor, as well as the administrative closing of contracts.

Everything To Know About Contract Administration Course

Specific Objectives:

– Knowledge of the legal background and current legal framework that regulates the administration of the contract.

– Know the background to the signing of the contract (contractor selection modalities), based on the application and other decrees and resolutions that govern the contracting process.

– Provide definitions of concepts and terms involved in contract administration.

– Management of Guarantees, advances, and modifications and/or adjustments of prices and periods applicable to the contract following the current legal framework.

– Powers and obligations of the inspection engineer and resident engineer of the work.

– Responsibilities associated with the administrative closing of the contract.

Programmatic content:

  1. Objective
  2. Background
  3. Current legal framework
  4. Subjects of law
  5. Exclusions of law
  6. Definitions
  7. Background to the signing of the contract
  8. Documents that make up the contract
  9. Types of contract by their nature
  10. Overview of the contract
  11. Social commitment
  12. Assignments of the contract
  13. Nullity of the contract
  14. Guarantees
  15. Advances and their management
  16. Applicable modifications in budget and time
  17. Price adjustment mechanisms (polynomial or escalation formulas)
  18. Control and supervision of the contract
  19. Powers and obligations of the parties
  20. Valuations and payments to the contractor
  21. Termination of the contract
  22. Administrative closure of the contract

Key benefits:

– Contract maintenance and change control

– Cost and charges monitoring

– Payment, ordering, and budget procedures

– Contract performance report

Other benefits of a Contract Administration Course:

 – It creates awareness among the officials of the contracting bodies or entities that have the responsibility of managing funds through the contracting of works, commercial, or professional services. As well as the contracting personnel of the obligation to carry out a contract administration according to the current legal framework.

– Strengthens the concepts related to the contracting process as a precedent for signing the contract, as well as the concepts related to the administration of the contract itself.

– Reaffirms the powers and duties of both the contracting body or entity, as well as the contracting personnel in charge of the contract.

– Provides the participant, with or without previous experience, with an auditable administration methodology for work contracts, acquisition of goods, commercial or professional services.