CIPSTamkeenStarts Aug 2, 2026

Managing Contractual Risk

Module

Duration: 25hrs
Level: 05
Language: english
Reference: L5M3

Course Overview

Contracts are where commercial risk crystallizes. This module covers the legal and process issues around contract formation (offers, counter-offers, acceptance, precedence of documents), the implications of breach (minor, material, fundamental, anticipatory, repudiation), and the remedies available — from negotiation through ADR to litigation.

What you'll learn

Identify contract-formation risks around offers, counter-offers, and precedence of documents
Draft indemnity, liability, and liquidated damages clauses that allocate risk appropriately
Choose between negotiation, mediation, arbitration, and litigation as a response to breach
Assess legal consequences of terminating a supplier relationship for non-performance

Syllabus & course details

Core module · 6 credits · Objective Response (OR) exam · 1.5-hour duration. The legal mechanics of commercial contracts and what happens when they go wrong. You'll cover the risks built into contract formation, the indemnity / liability / guarantee / liquidated damages clauses that allocate those risks, the types of breach (minor, material, fundamental, anticipatory, repudiation), and the formal and informal remedies — including mediation, arbitration, and conciliation — used to resolve disputes without going to court.