1.1 Unit 1
- Principles of Project Contracts
- Concept of contract
- Offer and Acceptance
- Contract objectives / packaging
1.2 Unit 2
- Project Contracting
- Principles
- Contracting process
- Compilation of contracts
- 3 R’s of Contracting – Responsibility, Risk and Reimbursement
- Global Tendering
- Bidding and bid evaluation
- Pricing terms and estimation
- Project negotiation
- Delivery terms and its significance
- Negotiations for projects
- Significance of Negotiation
- Objectives of Negotiation
- Parameters of Negotiation
- Pre-negotiation home work strategy and tactics
1.3 Unit 3
- Compilation of Project contracts
- Need for communication
- Contents of contract
- Terminology of contracts
- Practical aspects of contract
- Contract practices,
- Time / Quality / Safety
- INCO Terms
- Purpose of INCO terms
