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Contract drafting and formulation

While standard forms of contract are often used, the need almost always arises to make amendments to meet specific project requirements and to balance risk between the parties.

Frequently, where a standard contract is inappropriate the Owner may prefer to use a bespoke document to handle a project’s specific needs. Such contracts demand special care and attention to detail. and the right contract .to suit specific project objectives and market constraints is vital for successful project performance. Whatever the form used, clear definition of scope, terms and conditions, basis for payment, incentives and control mechanisms must be reflected in the contract.

Commercial and contractual advice

Prior to award, great care should be taken with Owner-proposed contract documents. In some cases, a risk analysis can be a worthwhile and cost-effective investment.

Post-award, both parties will know that the contract has imposed certain obligations on them. Apart from the obvious fundamental obligations of timely execution and payment, there will be included various provisions as to notices, payments, document review and time restrictions. Such requirements, if not most assiduously followed, may raise obstacles later and even prevent the pursuit of a party’s rights.

Risk analysis

Risk analysis may be performed at any stage during the life of a project. However, the most advantageous time is during the bid process and certainly prior to contract signature. Taking into account your commercial needs for a particular project we can provide:-…..

Detailed risk analysis Procurement & subcontracting strategy formulation Contract review and establishment Contract negotiation

By achieving a practical balance between risk and reward a sound basis for execution of the project will have been achieved.

Contract administration

Sound contract administration is fundamental to protection of a party’s rights under the contract.

During the execution of the project, whether in the engineering or construction phase, we can provide the various necessary services which can include some or all of the following:-

preparation of contract procedures and manuals specific to the demands of the project. practical interpretation of contract and advice on how to proceed. preparation of objective standard forms and letters referencing applicable clauses

These services are better provided at commencement of the project but can be usefully engaged at later stages. Furthermore, they can be available on a one-off or continuing basis.

Routine contract administration services are always available.

Training

Experienced in specialist training, we can propose available courses for individuals in your staff or arrange specific bespoke courses for groups from your company. These can be organised at times to suit your schedule needs and in your own offices to minimise disruption of the working time of your personnel. Training is usually given in English, but can be arranged in Korean or other languages if required.