Anyone aspiring or having a Home Loan would recognise at least 50 signatures that were required on the Home Loan Agreement. Needless to say, many of those clauses are complicated and as a normal user, you may not know what to read and assimilate under the small booklet called Agreement.
As per research report of International Association for Contract and Commercial Management stating that the organizations lose 9.2% revenue loss every year on account of poor contracts management.On execution of the contract, there will be several challenges, several new things which may arrive at the time of execution of your contract. These challenges are to be addressed appropriately on day to day basis as per the terms and conditions of your contract by developing appropriate documentation with substantial evidence.
Generally, on a project, there will be multiple contracts, EPC agreements, back to back contracts, several service level agreements, agreement of sale, Sale Deeds. Several obligations by the several contractors, customers, parties, bankers, etc. The project will be successful only after all the parties perform their obligations as per the respective contracts.
In Construction Industry, there are several types of contracts. It’s very necessary to understand the types of contracts in the construction industry before bidding the same. For your easy understanding, JUSTACONTRACT.COM has developed a video highlighting the types of contracts, suggestions, etc. Contracts Management in detail was explained in the Contracts Management Training video.
A Will is a declaration by which a person (“testator”) names person(s) to manage his estate which he desires to be carried in to effect after his death. The term Will is defined under Section 2(h) of the Indian Succession Act, 1925 as “Will means the legal declaration of the intention of the testator with respect to his property which he desires to be carried into effect after his death.”
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