Contract Drafting: Managing Risk
Dissect some of the most important risk related clauses and master how to draft watertight contracts that will provide your clients with unassailable risk protection. Perfect the art of allocating risk, maximise leverage related to damages and penalties, avoid the pitfalls of insolvency and default and ensure that if a dispute arises you’ll have the upper hand. Hone your skills in all these areas while considering example clauses that can reduce risk in your contracts.
Description
Attend and earn 3 CPD units in Substantive Law
This seminar was recorded in NSW on 6 September 2018
Chair: Robert Riddell, Partner, Piper Alderman
2.00pm to 2.45pm: Risk Allocation Clauses: Not My Problem
- Constructing an effective indemnity
- Limitation periods
- Notice provisions for claims
- Certificates
- Recoverable losses
- Limiting liability: direct loss vs indirect loss, caps and carve outs
- Insurance provisions
- Example clauses: what works, what doesn’t
Presented by Carolyn Coventry, Special Counsel, Barry.Nilsson. Lawyers
2.45pm to 3.30pm: Penalties and Damages Clauses: Pay Up
- General damages and liability for breach
- When are damages too remote: the difficult and grey areas
- Liquidated damages and what can be included
- Relationship between liquidated damages and penalties
- Limits of the penalty doctrine
- Best practice: practical drafting tips for liquidated damages and penalty clauses
Presented by David Jury, Partner; Recommended Construction & Infrastructure Litigation Lawyer and Stephanie Emmerig, Associate, HWL Ebsworth
3.30pm to 3.45pm Afternoon Tea
3.45pm to 4.30pm: Managing the Risk of Default and Insolvency: A Shelter in the Storm
- Minimising default risk while improving recoverability
- Key considerations: cure, default and termination
- Flexibility in varying the scope of the contract
- Considering what compensation is payable and what loss is recoverable
- PPSA implications and what to watch out for
- Example clauses: when drafting goes wrong leading to litigation and the lessons for contract drafters
Presented by Nicholas Simpson, Barrister, 13th Floor St James Hall
4.30pm to 5.15pm: Dispute Resolution Clauses: Hope for the Best, Prepare for the Worst, and Win Either Way
- Analysing different dispute resolution processes, their advantages and disadvantages, and when each one is most suited to reduce your risk and potentially give you an advantage
- Making it all work for you: enforcing the clause
- The precise language and clauses that can lead to an early edge in a dispute
Presented by James Ellsmore, Senior Associate, King & Wood Mallesons