Procurement Tenders & Contracts Conditions

Course Objectives: 

In today’s business world, “Commercial Contracts” are part & parcel of corporate life. Every organization enters into commercial deals of varying values and types. The effective & smooth management of any Commercial Contract is always a challenge. The basic reason remains that the initial formulation & development of contract is done under a certain perception of mind by the person(s), who prepare it. However, during its various stages of reaching to tendering, negotiating and mutually agreeing, finally signing, there are certain changes which occur. 

Further, during the course of its execution, a series of changes take place, in circumstances itself. All these lead to undue misunderstandings, distrust amongst dealing parties. In worst scenarios, at times parties end up entering into litigations & arbitrations, which eats into precious efforts & resources of organizations, even reaching to the stage of bankruptcy.

In fact, all this is not really warranted when…