It’s very common these days for customers to free issue some materials or plant that you would ordinarily supply under your contract. It’s sometimes necessary because of long delivery periods, when a contractor isn’t appointed, sometimes the customers motive is to save paying contractors overhead and profit on items. This can raise a myriad of contractual risk.
Reduce Your Risk In The Contractual Jungle - Liquidated Damages
Monday, 01 November 2010 18:39
This is the next in a series of articles where we look at some ways you can reduce your risk in the contractual jungle. The articles are brought to you as collaboration between UK Estimating Support Ltd and Knowles Ltd.
Many contractors are faced with changes of projects; typically this can be 15% of the contract value or even more !
Your customer has placed an order with your firm which included reference to your quotation comprising your lump sum figure and your schedule of rates (as they requested). The customer then decides they no longer want lightning protection, for key strategic programme reasons they placed the order direct, with YOUR sub-contractor, well they would have been if all had gone to plan.
Reduce Your Risk in the Contractual Jungle - Equal and Approved
Sunday, 29 August 2010 15:11
Contractors can unwittingly take on more risk than they expect by being helpful in this way. Most specifications which accompany the drawings include the phrase ‘equal and approved’. In this article we look at some ways you can reduce your risk in the contractual jungle.
Contract Law
It’s very common these days for customers to free issue some materials or plant that you would ordinarily supply under your contract. It’s sometimes necessary because of long delivery periods, when a contractor isn’t appointed, sometimes the customers motive is to save paying contractors overhead and profit on items. This can raise a myriad of contractual risk.
Contractors can unwittingly take on more risk than they expect by being helpful in this way. Most specifications which accompany the drawings include the phrase ‘equal and approved’. In this article we look at some ways you can reduce your risk in the contractual jungle.
