Description
Every business runs on contracts, and most contract losses come from poor management rather than bad law: renewal windows missed, extra work done without a change order, invoices stuck because the payment clause was vague, an uncapped indemnity nobody noticed, or a micro supplier paid in 90 days when the law allows 45. This practical course teaches operations, procurement, sales and project managers how to run a contract from request to closure, read it in twenty minutes, understand what each key clause does to money and risk, negotiate better terms, track obligations after signing and handle a breach without making it worse, all under Indian law.
What you will learn
- The eight-stage contract lifecycle: request, drafting, negotiation, approval, signing, obligations tracking, renewal and closure
- A five-pass method to read a commercial contract quickly, with definitions, schedules, precedence and red-flag words
- Scope, SLAs, delivery, acceptance and change control clauses that prevent scope disputes
- Price, payment, GST and TDS clauses, and MSME payment rules: the 45-day limit, compound interest, MSEFC and the MSME ODR portal
- Warranties, liquidated damages under section 74 and Kailash Nath (2015), indemnity, limitation of liability and insurance
- Termination, force majeure, assignment, confidentiality, IP ownership, DPDP data protection, non-solicit (section 27) and time-bar clauses (section 28)
- Negotiation with BATNA and trade-offs, redlining etiquette, contract risk scoring, and managing breach through notices, cure periods, escalation, arbitration and governing law
- Contract management tools and AI-assisted review with verification, plus a toolkit: review checklist, negotiation planner, obligations tracker and model clauses
Who this course is for
Operations, procurement, sales and project managers, MBA and BBA students, and startup staff who handle vendor and customer contracts without a large legal team. No legal background is needed. Contract law basics (offer, acceptance, consideration, remedies) are covered in Lexfolio’s Certificate Course in Business Law for Managers; this course focuses on managing contracts in practice.
How the course works
6 modules, 18 lessons, with a quiz of 5 questions after each module. Every lesson uses Indian business case studies, decision frameworks and checklists, and ends with key takeaways. The last module is a practical toolkit: a 30-point contract review checklist, a risk score sheet, a negotiation planner, an obligations tracker template, ten model clauses with [placeholders] and a what-to-do-in-order plan for breach.
How the certificate works
- A final test of 30 multiple-choice questions, mostly workplace scenarios, with a 45-minute time limit
- Pass mark 60%; you can retry if you do not pass
- On passing, you receive a Lexfolio certificate with a unique ID that anyone can verify online at lexfolio.in/verify-certificate/
- It is a certificate of completion from Lexfolio, not a degree, diploma or professional qualification
How to show this on your CV and LinkedIn
List it under “Certifications” or “Licences and certifications” as “Certificate Course in Contract Management and Negotiation for Managers (Certificate of Completion), Lexfolio, [month and year]”, and add the certificate ID or verification link so recruiters can check it. In interviews, talk about what you can do with it: review a vendor or customer contract with a checklist, score its risk, plan a negotiation using BATNA and trade-offs, apply MSME payment rules and build an obligations tracker. Describe it honestly as a certificate of completion from an online course; it is not a degree, diploma or professional qualification and does not entitle anyone to practise law.
This course is for education and general information, not legal advice for a specific case. Law as on 31 October 2026. For a specific situation, consult a lawyer or your District Legal Services Authority (NALSA helpline 15100).
Access: after payment, open My account > Courses and start learning. Lifetime access.
Access: after payment, open My account > Courses (or the course page) and start learning. Lifetime access to this course.
Free guides for this course
- How to Read a Contract Quickly: A Manager’s Checklist
- Limitation of Liability Clause Explained: Caps and Carve-Outs
- MSME Payment Terms: The 45 Days Rule Explained
- Indemnity vs Warranty Contract Clauses: The Real Difference
- Termination for Convenience vs for Cause Clause Explained
- AI Tools for Contract Review in India: Uses and Limits
