Course Description

Synopsis:

Contracts are essential for SMEs, governing relationships with clients, suppliers, partners, and employees. Without strong legal support, businesses may face financial, operational, and reputational risks.

This module introduces the key elements of a legally binding contract under Singapore law, common contractual pitfalls, and practical risk-mitigation strategies for SMEs. Through real-world case studies and practical guidance, participants will learn how to review and draft simple contracts, recognise when to seek legal advice, and better protect their business interests.

Intended For:

Audit Professionals / PAIP
Finance Professionals / PAIB
Public Sector Finance
C-suite & Directors
Business Owners

Competency Mapping:

CPE Category "Others" = 1.0 CPE Hour

What is a Contract?
Understanding Acceptance in Contract Law and Intention
Consideration and Certainty of Terms
Oral Agreements

Slides - Legal Pitfalls for SMEs - Understanding the Fundamentals of Contracts

Foo Chuan Ri

Senior Associate, Wee Swee Teow LLP; Head of Secretariat, Arbitration Victoria; Mediator, Consumers Association of Singapore; Accredited Mediator, Singapore Mediation Centre

Chuan Ri is a Senior Associate of Wee Swee Teow LLP, a 113-year-old Singapore law firm. As a Singapore-qualified lawyer, he is both an Advocate and a Solicitor. Chuan Ri specialises in international commercial arbitration and litigation, with a sectoral focus in areas of oil and gas, renewable energy and commodities. He also has experience across other practice areas, including criminal defence, family and matrimonial disputes, and personal injury claims.Clients have described Chuan Ri as one who provides “exceptional legal advice”, “a sense of confidence and reassurance during challenging times”, and one who is “efficient”, “very knowledgeable”, “patient”, and a “great lawyer” who is “very helpful”. Chuan Ri is also a Singapore Mediation Centre-accredited mediator and a mediator with the Consumers Association of Singapore (CASE). He also heads the Secretariat at Arbitration Victoria, an institution that facilitates the referral of disputes from County Court of Victoria (the principal trial court of the Australian state of Victoria).

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