This is the best definition of risk I have ever come across: Risk provides us with opportunities while exposing us to outcomes that we may not desire Diversity Dashboard Risks are not simply negative outcomes – bad things that may occur – risks are also positive outcomes – good things
Entering into a contract is a bit like the giddy phase of getting cosied up or married — everything appears rosy and full of excited anticipation. But there’s the real risk of things going wrong if the relationship isn’t nurtured or doesn’t produce the results that you expect. Ultimately, if
Frankly it has always surprised me that so many contracts lack a statement of the obvious ie what is the specific purpose or aim of the goods, works or services to be provided. Meeting expectations — and even exceeding them — can only come about by truly understanding what’s important
The length (and contents) of your contract gives off so many first impressions to would-be clients. A contract that’s just a couple of emails risks not covering the bare minimum, and a long contract with in-depth legal stipulations may showcase a lack of trust. So what is the ‘Goldilocks measure’
In an average contract, you’ll see suppliers describe in detail exactly what they will do as part of the scope of works. But in a great contract, you’ll see suppliers describe what they won’t do. In this post, I focus on the importance of adding clarity to your contract to
Do you really want to sign up to a contract that allows your client (or the main contractor) to keep taking work away from you and giving it to someone else? Contracts both entitle and oblige the provider to perform the whole of its scope – what I call a
What is the retention? Is it, as I have suggested, the contractor’s money which the employer is holding to ransom? Is it security for any defects discovered during the defects period which the contractor fails to put right? Is it a form of commercial leverage? In Yeovil v The Stepping
Any construction project (or product) can be stated to have a specific design life – normally listed in calendar years. Recent cases have reviewed if a design life is a promise ie an actionably duty or a mere statement of intent or desire: sinking wind turbines: a requirement for these
One of the respondents to my survey on the future of contracts told me (rather depressingly) that No-one cares about the contract. They just want the goods… But it is actually more nuanced. There are two different motives for two distinct stages: before signature: the parties are only focused on
Dominic Cummings, a UK Government advisor, was outed for an ill-conceived trip to Barnard Castle during the Spring 2020 lockdown (a place which ought to be famous for its mechanical silver swan rather than policital shenanigans). In his statement, he made a series of increasingly bizarre claims about testing his