BUSM2083-Project Procurement and Ethics

Task

1.Creation of a valid and enforceable contract and the risks that surround the contract

Choose a real or a fictitious commercial contract and answer the questions listed below. If it is a real contract take care with confidentiality/privacy issues. If you do not have access to one please speak to your facilitator. Where possible your answer should consider issues that relate the course as a whole. Please provide some preliminary information. In your chosen contract are you writing from the viewpoint of the buyer or the seller? Please also briefly describe the goods/services in your chosen contract 

1.1Creation of a valid and enforceable contract: Identify what is required to create a valid and enforceable contract in law.

1.2 Risk: 

1.2.1 Identify the risks that your real or fictitious organisation faces in the contract 

1.2.2 Assess and prioritise these risks 

1.2.3 Suggest ways to mitigate these risks 

1.2.4 Do you think that your organisation will be successful in mitigating these risks? Why? 

1.3 Negotiation:

1.3.1 Critically analyse a range of strategies that you could use to negotiate the contract. Include a discussion on what key risks you identified and how you sought to mitigate them in this negotiation stage.

1.3.2 How have you sought to achieve the objectives set in the organisation’s strategic plan? 

2.Key boilerplate terms 

2.1 List the key boilerplate (that is, legal or ‘fine-print’) terms in your chosen contract . 

2.2 Why did you choose them? 

2.3 Briefly describe each boilerplate term and its function.

2.4 Do you think that the term will achieve the function as just stated? Why?