Contracts

INTRODUCTION TO CONTRACTS COURSE NOTES

Receiving a Contract	Negotiating a Contract	Need Help? Legal Office Rescue!

                     
RECEIVING A CONTRACT

TIMELINE FOR A CONTRACT

• Read the document – if you do not understand it, you cannot administer or manage it.
• Identify the risk and exposure for the University.
• Recognise and fully understand the obligations, activities & requirements of parties.
• Understand the warranties, liquidated damages clauses, exclusions and limitations of liability, termination and indemnities.
• Negotiate – a better position may be possible.
• Execute – properly and according to delegation authority of Council.
• Formalise changes/variations.
• Administer/Manage – don’t forget it.
• Termination/expiry - be aware and understand.
• Don’t allow everything to turn to custard - seek advice early.

WHAT TO LOOK FOR IN THE CONTRACT

Upon receiving a contract, you should check whether the contract contains basic information such as:

A. The correct legal names of the parties. That is:

• At least 2 parties involved
• Correct institution, company or individual named
• ABN/ACN correctly identified
• Correct identification is important
• Handy sites to check legal title: www.abr.business.gov.au or www.asic.gov.au

"THE AUSTRALIAN NATIONAL UNIVERSITY, ABN 52 234 063 906, an institution pursuant to the Australian National University Act 1991 (Cth) through and limited to the {insert name of college/faculty/school/department/centre}, of Acton, in the Australian Capital Territory, 0200, Australia (‘the ANU’)."

B. The dates (start and finish) or term of the agreement.

C. The responsibilities and obligations of the parties respectively.

D. The terms of payment or other commercial consideration.

E. The procedure for termination of the agreement.

F. A signature line for the correct ANU delegate to sign.

Does the person with the appropriate delegation agree to execute the document? A briefing or explanation may be required why they should sign.

You should then review the content of the contract, keeping in mind questions such as, 'Does the arrangement reflect that of the ANU and/or your understanding of what is wanted in the contract?' etc. Please look at the CONTRACT CHECKLIST for more aspects to consider.

REMEMBER: The Legal Office is here to help if you need it!

 
               
NEGOTIATING A CONTRACT

If the legal document does not meet the ANU's understanding of the deal, you may need to negotiate with the other party/parties. Here are a few helpful tips for negotiating:

• Keep focused and don’t be distracted. Try and stick to what you intended.
• Consider what is needed to be undertaken and ensure it is covered in the contract.
• Maintain your position but be prepared to give a little.
• Have a fall back or alternate position that is acceptable.
• Consider an ‘out’ – termination.
• Ask questions if you do not understand.
• Avoid drifting into contract while negotiating.
• Seek help if necessary.
• Maintain composure.
• Don’t be afraid to walk away if necessary.

REMEMBER: The Legal Office is here to help if you need it!                         

NEED HELP?            

REMEMBER

IF YOU ARE UNCERTAIN OR HAVING DOUBTS THEN PLEASE GET LEGAL ADVICE – EARLY.

Please call the Legal Office on 5-8489 or 5-4394 for assistance or

fill out the Request for Legal Advice Form and

e-mail “Legal.Office@anu.edu.au”.