Cross-border leasing is an agreement where an asset is leased in one country and used in another. This arrangement applies to various assets, including aircraft, ships, manufacturing equipment, and real estate. Benefits of Cross-Border Leasing:…
Framework Agreements are essential tools in strategic procurement, offering a structured framework that simplifies the execution of specific contracts over an extended period. By establishing pre-approved terms, these agreements reduce the need for extensive negotiations…
An EPC contract outlines roles, responsibilities, and expectations for a successful project. But what happens if the contractor falls short? A well-defined “Contractor Default” clause empowers you, the owner, to address breaches and protect your investment. Here’s a breakdown of key…
Imagine this: you’ve signed an EPC contract for a new building, excited to get started. Then, halfway through construction, you encounter unexpected soil contamination or buried utilities. Who’s responsible for the extra time and cost? In EPC contracts, it’s common for contractors…
Planning a major construction project requires clear communication and well-defined expectations. In the world of EPC contracts (Engineering, Procurement, and Construction), a solid foundation is essential for a successful outcome. This foundation starts with a clear understanding of when…
Negotiation isn’t just about reaching an agreement; it’s about anticipating what happens if one isn’t reached. Here are some potential consequences of a failed negotiation: Considering these possibilities is crucial when entering negotiations. By acknowledging…
Contractor schemes are a popular choice for project execution due to their clear structure and defined roles. But like any approach, they come with potential pitfalls. Being aware of these challenges can help principals and contractors work together…
Contracts are the backbone of business interactions, but they come with inherent risks. Enter Contract Risk Management – the strategic approach of identifying, assessing, and mitigating potential risks associated with contractual agreements. In this blog,…
Introduction: Contracts are the backbone of business relationships, outlining expectations, responsibilities, and obligations. However, within the complex web of contract terms and conditions lie various risks that can disrupt operations, tarnish reputations, and lead to…
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