In today’s highly competitive and cost-conscious environment, understanding commercial contracts is an important part of business activity. Over 85% of business transactions are governed by contracts and hence it is necessary that contracts be aligned with business expectations. It requires legal and Non-professionals to be well versed with the contents of commercial contracts and expertise to foresee the risk and have futuristic thinking to handle contracts in the best interest of their organization.
This Understanding the Workings of Commercial Contracts 101 seminar is for any professional who wants to learn and understand the workings of commercial contract. This would include individuals who have no experience, but want to learn the fundamentals, as well as those who have or will have a job that directly involves dealing with commercial contracts.
- Get-to-grips on understanding contractual terms and their impact o businesses
- Expand your knowledge of the risk in liability clauses
- Master practical knowledge of contents of agreements
- Examine specific clauses and their use
- Learn how to interpret variations and time of essence clauses
- Clarify essential terminology in commercial contracts
- Get up-to-date with the use contractual liability clauses and indemnities
- Understand the effect of exclusion and limitation clauses and how they can be used to manage your exposure
- Understand how the limits on liabilities
- Understand how Boiler Plates work
Who Must Attend
Module 1: TENANCY TERMS
- Classification of Tenancies and Duration of Tenancies
- Term tenancy and otherwise –Rights of both parties
- Rental Amount and Rent Acceleration Clauses
- Control of Rent (Repeal) Act of 1997
- Stamp duty and Calculation under the Stamp Act 1949
- Penalty for late payment and Calculation
- Exit Clause
- Business environment and Tenancy Contract
- Termination of Tenancy
- The Malaysian Legal System
- Landlord’s Remedies
- Understanding TEMPORARY OCCUPIER LICENCES [TOL]
- Termination of Tenancy and Eviction of Tenant
- Events of Default by Landlord
- Events of Default by Tenant
- What is an Action for Distress and the effect of the Specific Relief Act 1950
- Procedural Steps for an application of a Writ of Distress.
- Advantages and Disadvantages of a Writ of Distress
- Where the landlord wants to Terminate the Tenancy and take back the Property
- Issuance of Notice to Quit
- The effect of Issuance of Notice to Quit on Written and Unwritten Tenancies
- Procedural Steps to take back Property once Notice to Quit is served
- Situations where Tenant refuses to leave and Landlord’s Rights in terms of Rental accrual Calculation and the Writ of Possession
- Effect of Civil Law Act 1956
- Clauses that must be drafted into the Tenancy Agreements to ensure effective debt collection.
- Double Rental
- Contracts Act 1950 – S.75 as contractual remedy fo damages
- Understanding Indemnities - Scope
- Understanding Order and scope of Contents of Tenancy Agreement:
- Order of Precedence
- Where there is more than 1 Tenancy Agreement –order of precedence
- Discussion on scope of Liability in Tenancy Agreements
- Understanding Joint and Several Liability in Business Tenancies
- How to Create Joint and Several Liability in a Business Tenancy
- How to Destroy Joint and Several Liability
- Boiler Plates and Tenancy Agreement:
- The significance of boilerplates used in this Tenancy agreement.
- Interpretation clause and its role in agreements
- Severability clause
- Entire Agreement Clause and when it cannot be used
- Force Majeure and its consequences
- Contra Proferentem Rule and writing out of it
- Waiver clause
- Notice and its importance
- Survival and Merger Clause
- Amendments and its rules
- Difference between an addendum and an amendment
- Variations in tenancy agreements.
- Novation and Assignment Explained
- Note: Existing Tenancy Agreement will be used in the relevant modules for better understanding of law.
|Sign up 1 pax|
|Pay before course starts|
|MYR 2,590.00 per pax|
|Sign up 1 person|
|Pay 14 days before course starts|
|MYR 1,990.00 per pax|
|Sign up 3 pax or more|
|Pay 14 days before course starts|
|MYR 1,890.00 per pax|
Upon successful completion of this program, you will receive a Certificate of Achievement.
1. ONLINE PAYMENT by Credit card: You can opt to register and pay online with our latest payment integration system through our website.
2. Telegraphic Transfer- You can also opt to use GIRO or telegraphic transfer of payment via international banks.
Contact us: ITRAININGEXPERT GLOBAL PLT
Tel:+603 8074 9056 | +603 8082 3707
Mobile: +6012 6869 628 | +6018 2175 123