In this article, we will discuss important skills related to, amongst others, critical Commercial Terms and Conditions that are helpful in developing a safe and secured contract.

To accomplish a Safe and Secured Contract, it is important to engage the other side in a constructive way such that it is a win-win collaboration for both the parties.

This article focuses on the importance of internal preparation which facilitates in taking informed decisions to participate in any tender and further will be helpful during Contract negotiation to achieve a safe and secured contract

The article specifically focuses on EPC projects related to power plants, steel, aluminium, oil and gas, petroleum sector, Infra structure sector, Fertiliser, Transportation sector.

EPC projects are usually high Valued Projects could be as high as 2-3 Billion USD with a project schedule ranging from 3 years to 5-6 years and beyond. It is to be noted one has to be very careful to avoid any mistake or miss during bid stage in scope or performance guarantee or otherwise else such miss or mistake could land company into serious problem execution.

The course explains the important aspect to be taken care during bid stage and during negotiation for finalisation of contracts are

1 Customer Mapping

2 Focus on your strength

3 Market intelligence

4 Qualification Requirement

5 Risks and mitigation

6 Master Commercial Terms and Conditions

7 Execution Philosophy

8 Adopt Fair Play, ethics and compliance

9 Environment, Health and Safety

10 Healthy Customer Relation

Understanding the above , one can reasonably become certain to take care of scope, guarantee, price and critical clauses during bid stage and negotiate with Customer to ensure safe and secured contract