After successfully conducting Commercial Contract Master Class 2012 in the cities of New Delhi and Mumbai in the months of January and February, Achromic Point organized the Commercial Contract Master Class 2012 in Bengaluru on 9th March 2012 and in Chennai on 21st March 2012. Lex Witness was the Magazine Partner to the event.
AZB & Partners and KPMG were the knowledge partners for this event. Mr.Anind Thomas and Mr.AdityaBhat, Partners, AZB & Partners were the speakers along with Mr.Anupam Nagar, Director, KPMG and Mr. Samuel Mani Kallupurakal, Head Legal, Infosys at the Bengaluru seminar. Mr.ShreyasJayasimha, Partner, AZB & Partners and Mr. JLN Murthy, General Counsel, Ranbaxy joined Mr.Anupam Nagar at the Chennai seminar.
Drafting commercial contracts, either international or domestic, is an integral part of business. Over 85% of business transactions are governed by contracts and hence it is necessary that contracts be aligned with business expectations.
In businesses involving aspects such as infrastructure, leases/rentals/insurance, outsourcing, manufacturing, supply chain, maintenance and facilities, there is greater vulnerability to procurement fraud and any non – compliance can further dent the bottom line. Irrespective of whether non – compliance by third parties and/or businessassociated is deliberate or not, it is important for firms to establish an effective system for contract compliance and monitoring of contracts.
To have such a framework in place, companies must understand the various forms of contractual non – compliance and their impact on the company.
This one day master class addressed the issues faced by in-house counsel, contractmanagers, procurement professionals and private practitioners to draft and manage contracts towards the success of one’s business organization simultaneously attendees were also updated and made aware of the new trends of procurement fraud and best practices to mitigate this risk.
The key topics covered in this seminar were Negotiation of Commercial Contracts, A Hands – on guide to drafting Commercial Contracts, Technique of drafting International Contracts and Combating Procurement Fraud and establishing effective Contract Compliance.
The seminar saw the gathering of Legal Heads and Company Secretaries along with Finance Heads, Finance Controllers, Directors, CFOs, CEOs, Advocates, and Compliance Officers.
The corporate who were a part of this seminar included Fidelity Business Services, MindTree Ltd., Yahoo Software Development India Pvt. Ltd., Essilor Manufacturing India Pvt. Ltd., Mahindra Retail, Davis Langdon &Seah Consulting, Petronet MHB, Biocon Limited, MetLife India Insurance, Aircel Limited, AXA Technologies Shared Services, AccentureServices, Bangalore International Airport Limited, OPG Power Generation, L & T infrastructure Development Projects Limited.
Achromic Point completed its series of the Commercial Contract Master Class with the Chennai event. As per the feedback received from the speakers and delegates, the seminar was an enriching experience and the discussions were both enlightening and insightful.
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