It is essential to understand the differences between void and voidable contracts because they carry different legal implications. In this article, we will explain the key differences between void and voidable contracts,…
Category: Contract Management
What is a Corporate Guarantee in Construction Contracts?
Have you ever heard of a contract where someone else than the parties bound in the contract guarantees on a party to it? This is possible through a Corporate guarantee. This is…
What is Force Majeure Clause in a Construction Contract?
The term ‘Force Majeure’ is a French term that means ‘Superior Force’ in English. It relieves the parties in a contract to perform their contractual obligations under certain circumstances beyond their control….
What is a Hybrid Annuity Model (HAM) Contract?
In the ever evolving world of contract management, HAM, or Hybrid Annuity Model projects are gaining traction in India. HAM is a blend of the EPC (Engineering-Procurement-Construction) and BOT (Build-Operate-Transfer) model contracts….
What is Retention Money in Contract?
retention money in construction contracts
EPC Project Management in 2023: Phases and Challenges
In project management, ‘EPC‘ stands for Engineering-Procurement-Construction. EPC is a type of contract where the owner trusts the contractor with a project in its entirety. They do the Engineering from concept to…
What is the difference between Secured Advance and Mobilization advance in Construction?
In contract management, advance payments play a vital role in the performance of a Contractor. This is because the performance of a contractor is directly linked to their cash flow. Advances in…
What is Performance Bank Guarantee (PBG)?
When an Employer awards a construction contract to an agency, it is indispensable for them to have the commitment from the Contractor. Here, ‘Commitment of the Contractor’ means delivery of the project…