This practical course will enhance skills in understanding, developing and negotiating key contract terms, for domestic U.S. as well as international energy and electrical industry contracts. The concepts and techniques apply whether one is selling gas in Columbia, South Carolina, or exporting oil to Colombia.
The course builds upon two predicates: the business context and the legal framework. These will both be explored using realistic scenarios and examples. The business context includes "who, what, when, where and why:" the parties, business deal, timing, location and objectives. The legal framework starts with UCC Article 2 - Sales of Goods. This law applies to commercial contracts (except in Louisiana), whether one is selling a turbine, gas or electricity. The course will contrast the UCC with its international counterpart: the UN Convention on Contracts for the International Sale of Goods (CISG). Some key differences between U.S. and international practices will be reviewed.
Once one understands the business deal and the legal framework, appropriate contract language can be developed. Relevant energy industry forms or precedents provide a useful starting point, but each term or clause serves a purpose. Translating the business deal into clear contract language represent the first priority. One should follow the money through pricing and payment terms. Risks must be allocated. Unexpected events and the endgame should be anticipated. Last but not least, actual implementation requires forethought. All of this becomes more complex with global commerce, electronic transactions and regulatory compliance issues. Using samples and hands-on exercises, attendees will share good drafting practices and improve upon their techniques. By the end, every attendee should feel more comfortable with handling transactions virtually anywhere in the world.
CONTRACTS LAW
TRANSLATING BUSINESS DEAL TO CONTRACT
FOLLOW THE MONEY
FROM START TO FINISH
QUALITY ASSURANCE
ANTICIPATING THE UNEXPECTED
DEVILS IN DETAILS
NEGOTIATING FROM STRENGTH OR WEAKNESS
PROJECTS GONE SOUTH
PRACTICE MAKES ALMOST PERFECT: Workshop on Drafting, Critiquing and Revising Contract Language
This live group seminar is eligible for 13.0 CPE credits. Be aware that state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. As of January 1, 2002, sponsored learning activities are measured by program length, with one 50-minute period equal to one CPE credit. One-half CPE credit increments (equal to 25 minutes) are permitted after the first credit has been earned in a given learning activity. You may want to verify that the state board from which your participants will be receiving credit accept one-half credits.
This seminar will benefit almost anyone who is involved in the natural gas, petroleum, electric power or natural gas liquids processing industries. Inexperienced and seasoned professionals in sales and marketing, energy procurement, energy trading, trading support, risk management, contract administration, project management, finance, accounting, attorneys and paralegals will receive important insights from this seminar which might save your company from losing millions of dollars on one poorly written transaction. Energy and electric power executives, auditors, plant operators, government regulators, engineers and corporate planners will also benefit from this seminar.
Types of companies that typically attend this program include energy producers, refiners, and marketers; utilities; banks, private equity and hedge fund asset developers ; industrial companies; accounting, consulting & law firms; municipal utilities; government regulators and electric generators.
This fundamental level group live seminar has no prerequisites. No advance preparation is required before the seminar.
PGS seminars are known for their clear explanations and in-depth content. Register for a PGS class today, and join the over 10,000 energy professionals who have already attended one of PGS's proven programs.