Contract Management
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What is a Corporate Guarantee in Construction Contracts?
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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…
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What is Force Majeure Clause in a Construction Contract?
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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…
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What is a Hybrid Annuity Model (HAM) Contract?
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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…
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EPC Project Management in 2023: Phases and Challenges
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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…
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What is the difference between Secured Advance and Mobilization advance in Construction?
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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…
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What is Performance Bank Guarantee (PBG)?
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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…
