contract negotiation

Contract Negotiation NEGOTIATE RATHER THAN DEMAND

Group MembersHASSAN MUSHTAQ (2014-CIV-169)MUHAMMAD SHAKIR TAHIR (2014-CIV-174)ALI HUMZA WARIS (2014-CIV-182)

KEY POINTS:

Introduction Why Negotiate? How to Negotiate?Variations in a Contract Visit to a Construction Site Conclusion

Introduction

What is a Contract?A contract is an agreement between two parties which is reinforced by the law.

A contract is necessary toEstimate the cost and time of completion of the

projectSet good relationships Increase the efficiency of the work

What is Contract Negotiation? A process of give and take, the parties

go through, to reach an Contract.

“you don't get what you deserve; you get what you negotiate."

Why Negotiate?

Why Negotiate?

To have an agreement between the two parties

To fix the cost of the material To make Contract beneficial for both

parties

How to Negotiate?

How to Negotiate? Identify your objectives for entering into

the contract Analyze all the terms to be included in

the contract Aim high and expect the best outcome.

How to Negotiate Contracts

Research contract laws in your state Determine what contract provisions are

negotiable Create a checklist of items to address

during negotiations.

How to Negotiate Contracts

Build trust with other party Set a timeframe within which to reach

an agreement on disputed terms

Variations in a Contract

Variations in a Contract

variation  is an alteration to the scope of works in a construction contract in the form of an addition, substitution or omission from the original scope of works.

Variations in a Contractvariations in a contract may include Alteration to the design Alteration to quantities Alteration to quality Alteration to working condition Alteration to sequence of work

How construction companies deal with variations

Amendments to the contractual provisions

Variations of the actual work instructed by an employer.

Visit to a Construction Site(Orange Line Metro Train)

Introduction to this ProjectType Rapid Transit

System Lahore Metro

StatusUnder Construction.

Expected completion date of

October 2017.

Location Lahore, Pakistan

Stations 26* (Planned)

Daily ridership 250,000* (Estimated when operational)

Variations in this Project

Variations to the designVariations in the stationsVariations in the rout

Causes of these variations

Public pressureDestruction of some historical

placesStay orders

Conclusion

Conclusion Contract Negotiation is necessary for

any project to avoid conflicts and disputes.

The end goal should be both fair and equitable to each party.

Thank You…..

Any Question?

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