A “liability cap” acts as a safety net in contracts, limiting the maximum amount a party (usually the contractor) can be forced to pay for breaching the contract or facing other legal claims. This cap,…
In the world of EPC (Engineering, Procurement, and Construction) contracts, sureties and bonds act as a financial shield for project Owners. These instruments serve as a safety net, offering protection against the risk of contractor…
A well-drafted contract is the cornerstone of any successful business relationship. By including essential clauses, you can ensure clarity, minimize disputes, and protect your interests. Here’s a breakdown of key provisions to consider for every contract: Clear Communication and…
EPC contracts necessitate sharing information, but it’s crucial to strike a balance between safeguarding confidential details and granting the owner necessary rights to the project. Here’s how to achieve this balance: Confidentiality: A Two-Way Street Contractor…
Bank guarantees offer peace of mind in contracts, but securing the necessary paperwork can sometimes feel like a hurdle race. Let’s explore some common roadblocks you might encounter: By being aware of these potential obstacles…
Negotiations aren’t over after the final handshake. A successful follow-up process is the glue that binds agreements and fosters lasting relationships. Solidifying Commitments: Ensuring Progress: Learning from the Experience: Following Through:…
Event planning is a meticulous dance, and the closing agreement is the final, triumphant bow. Finalizing details and ensuring clear understanding prevents future hiccups and sets the stage for a smooth execution. Components of…
Negotiation isn’t just about handshakes; it’s about building a solid foundation for future success. Putting everything in writing isn’t just a formality, it’s a strategic advantage. Clarity & Agreement: Reliable Record-Keeping: Legal…
Don’t let agreements turn into disagreements later. Formal communication in negotiations isn’t just about following protocol; it’s a strategic tool for a successful outcome. Why Formalize? Best Practices: By formalizing communication, you…
