A letter of intent is a contract to start a construction project in the form of a letter. It may also confirm the sender’s intention to award the contract for the whole project to the recipient – the contractor. The purpose of a letter of intent is two-fold: (1) to
Contract strategy is just a fancy way of saying choosing the type of contract you want. There are various issues to take into account: your procurement strategy: traditional, design and build, prime cost, management contracting your payment strategy: lump sum, remeasurement, target price your risk strategy: pro-active or reactive; transfer,
According to most professional bodies, you should ‘just say no’ when offered a letter of intent. However, the court recently said that it was not negligent to start a project under a letter of intent. So what advice is there on using letters of intent? One case (Cunningham v Collett)
There are five essentials for a contract: offer acceptance intention to create a contract consideration (the price or a promise) and certain & complete terms. Whether any specific agreement, document, text or voice-message meets all those requirements is a matter of fact to be determined by a court. Was it