Contract Risk Scoring: how does a World Bank contract for PLANT score?

Contract Risk Scoring is an effective way to analyse contracts for their risks on commercial and contractual issues. We have applied this on a typical World Bank Contract for PLANT. The Contract Risk Scoring is 25 which means it is a low risk contract. This article provides the report and analysis.

Afitac.com the blog on international tenders and contracts

Afitac.com is the blog that provides you with posts, every week, on a variety of subjects of interest for companies and people working on contracts whether as a leader, a commercial manager, a project manager or a contract manager. Have a look directly at our website www.afitac.com and follow us on LinkedIn in order not to miss any of our latest articles.

Transformation of companies, the role of external resources

Companies are gradually reducing their staff to below the levels needed to be fully operational. The successful companies of the future will only have a core of employees to establish and maintain the company’s culture, strategy, brand, focus etc and rely on well-selected external resources. In this post, we have reflected on vital points in that context: confidentiality, dependence, value creation and risk analysis.

IACCM is promoting tools to score the risk of your contract portfolio

IACCM, the International Association for Contract & Commercial Management, is promoting that we would start risk scoring our contract portfolio. With TRaCRs, the Tender Risk and Contract Review system, AfiTaC has developed a free tool for contract scoring. This tool will rate your contract on 20 different subjects. Contract scoring will contribute to your objective to negotiate and execute balanced contracts.

Thank you FIDIC for explaining changes introduced with FIDIC Rainbow Suite (ed. 2017)

This article explains the changes from the first (1999) to the second (2017) edition of the Rainbow Suite (Red, Yellow and Silver Books). FIDIC has put good efforts in making their standard contracts more balanced: dispute avoidance, dealing with delicate issues like variations and programme and further introducing project management best practices.

Contract negotiation, 5 things you should not do!

Maybe even more than taking advice on what we should do, as negotiators, we need to be aware of what we should not do. This post provides you with 5 “don’ts” that are pretty straightforward. Staying away from these is a necessity to remain a credible and successful negotiator.

EPC Contract , win-win negotiation case study, early completion bonus

This is a case study of a multicultural negotiation for a privately developed concession to build and operate a hydro-power plant during 30 years. The discussions came to a win-win subject: the specific advantages for each of the stakeholders brought by early generation. This created a positive atmosphere during the negotiations based on trust, respect, transparency and pro-activity. This atmosphere was also beneficial to resolve other subjects that were not themselves win-win situations.

EPC Contracts: win-win opportunities during contract negotiation?

You have read books, articles, blogs on contract negotiation. Or, even better, you did a real training programme. All have praised the importance of win-win negotiations. There you find yourself in your next tough negotiation. All the discussions are on limits of liability, caps for liquidated damages, rights to terminate the contract etc. Subjects where a bit more protection for one party automatically means a bit less for the other party. You hesitate. Are those articles or training courses not realistic, not worth your time & money?

Contract negotiation: after a long day of negotiation… 6 essential things to do

No doubt, we would all want to hear that, after a long day of negotiations, the best is to go out, eat some delicious food and have some beers in a bar because you deserved it. Negotiation is a challenge that can be compared to professional sports. It requires anticipation, recuperation, communication and these things take a bit of your precious time. This article provides 6 essential things to do after the formal meetings.