169,174,182
TRANSCRIPT
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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