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 contracts.
Anyone slippage of any of the obligation by one party may lead to a delay of the whole project.
Hence, appropriate project management along with contracts management plays a vital role in ensuring the completion of your project as planned.
LET US EXAMINE THE REASONS FOR POOR CONTRACTS MANAGEMENT:
- Real Estate contracts include several subcontracts, finance agreements, which fulfils the objective of the main contract. In most cases, each individual contributor at a grass root level may not have visibility to the overall objective, intention and real vision of the main contract.
- There may be every chance that the objective of the contract may not be fully implemented and may result in delays, losses and sometimes even contribute for complete stoppage of the project.
- Several contracts will be executed in the project and the Team may not be aware of contract clauses in those contracts and the operation of the same. Those misses may result in breaches, delays, and losses in the project.
WHAT JUSTACONTRACT.COM DOES IN REAL & INFRASTRUCTURE PROJECTS?
- JUSTACONTRACT.COM can support the real estate companies in executing the agreements with owners, builders, providing due diligence report, support in subcontract agreements, etc.,
- Prepare the summary of all the agreements along with do’s and don’ts statement.
- Follow up or alarm statement to enable the parties to exercise the important clauses in those agreements.
- Generation of necessary correspondence on the breaches in any of the agreements with substantial evidence.
- Support in preparation of claim statement or counterclaims. Provide Support in invoking disputes if any or replying the disputes if any and support the parties in resolving the Dispute amicably.
- If the dispute is not resolved amicably, support in preparing the invocation of dispute as per the contractual clauses.
- If there are any interim measures that are required as per contract situation, provide support to the party for filing Section 9 application under Arbitration and Conciliation Act, 1996 for interim relief in the appropriate courts with the support of the Advocates.
- Provide support for appointing the Arbitral Tribunal, conducting the arbitration proceedings and also for execution of the Award as required.