If you want to get paid on time, without deductions, then you need to take a strategic approach during all three key stages of contract inception, contract creation and contract operation. Plan for It: Contract Inception Before you agree to enter into a contract with a client, you should check out whether ...
Stephen R Covey’s 7 Habits are principles to help you become highly effective. There are astonishing parallels with my specialist area of law - contracts. In brief, the first six of the 7 habits can be summarised as “make and keep a promise” and “involve others and work out a solution ...
To make letters of intent really work for you, you need a fast but fool-proof process. There are two critical stages: what you do before you send a letter of intent and what you do after. Before You Send It You should check whether the letter of intent you need to send ...
On any construction project, there is likely to be a funder, who lends money to the client for the purposes of getting the development completed. The funder will assess the viability of a project based on factors including: size of the loan ie the amount of money the client needs to borrow ...
It’s not necessarily good or bad to use a letter of intent. Depending on who you believe, letters of intent may be considered ‘necessary evil', a sign that the project has gone wrong, evidence of a defective contract strategy or a means to the right end. Despite the ...
Whether you can avoid a letter of intent depends on where you are in the contract process - are you at the stage of deciding your contract strategy or are you about to start the construction phase? It can either be a strategic or tactical decision... Strategic If you would like to ...
The UK Government's Construction 2025 report says that our industry's success depends on taking a strategic approach to contracts: "Repeat customers... approach the industry in a strategic way and secure a better outcome, particularly in the context of whole life value – and generally through the early engagement of key suppliers ...
This explanation from HH Judge Keyser QC in Ampleforth Abbey Trust v Turner & Townsend Project Management Ltd perfectly explains why letters of intent are meant to be temporary: The execution of a contract is to be seen not as a mere aspiration but rather as fundamental. It is ...