Skill Bits Collection
Basics about Contracts Contract Administration Contract Compliance and Ethics Contract Drafting Contract Management Contract Negotiations Contract Risk Management Contracts Digital Contract Management Solutions EPC Contracts Financial Management for Contracts International Contracts Managing Contracts
Seeing the Bigger Picture: Understanding Lifecycle Costs
Making smart choices about products and assets requires looking beyond the initial price tag. This is where Lifecycle Costs come in. Lifecycle Costs encompass all the expenses associated with an item – from acquisition to disposal – over its entire…
Beyond the Price Tag: Unveiling the True Cost with Total Cost of Ownership (TCO)
Making smart purchases goes beyond the sticker price. This is where Total Cost of Ownership (TCO) comes in. TCO is a comprehensive approach that analyzes all the expenses associated with owning and using something – a product, asset, or service…
Optimizing the Journey: Commercial Management of Orders and Contracts
Effective commercial management plays a vital role in ensuring successful project delivery and fostering positive supplier relationships. It involves a meticulous approach to managing the entire lifecycle of contracts and orders. This process begins with identifying needs and defining clear…
Commercial Management of Orders and Contracts
The purpose of commercial management of orders and contracts is to ensure effective oversight, execution, and administration of all contractual agreements and orders between an organization and its suppliers or contractors. This process aims to optimize value, mitigate risks, and…
When Mistakes Happen in Contracts: What are the Remedies?
So far, we’ve explored different types of mistakes that can impact a contract’s validity. Now, let’s discuss the potential remedies available. 1. Rescission: 2. Rectification: Choosing the Right Remedy: The appropriate remedy depends on the specific mistake and the desired…
Understanding Mistakes in Contracts: Common vs. Unilateral
This blog post series has explored different types of mistakes that can impact the validity of a contract. Today, we’ll differentiate between common mistakes and unilateral mistakes. Common Mistakes: Unilateral Mistake: Key Distinction: Additional Note: Remember: Both common and unilateral…
Unilateral Mistake in Contracts: When One Side Gets It Wrong
Our series has covered common and mutual mistakes. Now, let’s tackle unilateral mistakes, where only one party is mistaken about a key aspect of the agreement. Here’s what to know about unilateral mistakes: Unilateral mistakes are complex. The legal outcome…
Mutual Mistake in Contracts: When Misunderstandings Void Agreements
Following our discussion on common mistakes, let’s explore mutual mistakes, where both parties hold a mistaken belief about a crucial aspect of the contract. Here’s what to remember about mutual mistakes: Mutual mistakes are legally complex. The consequences depend on…
Common Mistakes in Contracts: A Deeper Dive
Our previous post explored different mistake types in contracts. Let’s delve deeper into common mistakes, where both parties share a mistaken belief about a fundamental aspect. Key points to remember about common mistakes: Not all common mistakes invalidate a contract….