The worldwide economic impact of COVID-19 could result in cash flow impairment from disrupted operations, higher operating costs, and lost revenue. This self-study webinar will focus on best practices for creating and managing the contracting process on a global scale, as well as risks inherent in international contracting and the necessary controls required. Topics covered include:
- Why global contracts matter
- Types of global contracts
- Management strategies
- Common legal issues
- Other finance, accounting and controls
To provide financial professionals with best practices for managing the global contracting process during the COVID-19 crisis, and equip them with an understanding of the inherent risks and necessary controls.
- Types of global contracts
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Global contract management strategies
– Compliance
– Analytical needs
– Protecting company interest - Coordinating supplier and customer contracts and negotiations
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Legal issues
– Risk allocation, including force majeure
– Intellectual property
– Dispute resolution - Business opportunities and risk
- Customer- and procurement-focused organizations
- Compliance and Accounting Issues
- COVID-19 and ASC 606 contract modifications
- The International Association for Contract and Commercial Management (IACCM)
• Identify common legal issues within global contracting
• Identify characteristics of efficient global contract management
• Recognize the extent to which intellectual property is and is not protected by global contracting
• Identify the most expensive form of dispute resolution
• Recognize the role of contractual Force Majeure clauses in a COVID-19 environment
• Recognize the accounting implications of a lease modification that does not result in a separate new lease
• Recognize specified pandemic-related effects on global contracting
