Terms and Conditions of Contracts for Projects from POME by Gautam Koppala VT

addition, because clients occasionally ask for a “typical” contract, the draft clauses can be combined into a “typical” or “draft” contract that can be given to a client. Even though this “typical” contract agreement may not be sufficient for every situation, it can be a starting place. It would also be valuable to maintain a summary of commercially oriented company policies for reference in reviewing a client’s contract provisions.

Negotiating for the type of contract is a two-way street. The contractor desires a certain type of contract to reduce risk. The client desires a certain type of contract to reduce costs. Often the client and contractor disagree. It is not uncommon in industry for prospective projects to be canceled because of lack of funds, disagreements in contract negotiations, or changing of priorities.

Although all contracts can be

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