.............................................................................................................................
Description
This third edition of Contracts and their Management focuses on the concepts and principles behind each clause in a contract, supporting them with case law to explain the practical side of the subject and the judicial interpretation. The appendices to the book contain specimen clauses in a contract, tendering procedure as prevalent in India, Central Vigilance Commissions guidelines on tender procedure, salient features of the World Bank procedures for procurement and for appointment of consultants (revised up to October 2006). The book provides an insight into the legal issues involved, without making it too legalistic and serves as a handbook of reference to those who are engaged in negotiating contracts and to help them avoid the pitfalls involved. The book has given significant coverage to important decisions of the Supreme Court explaining the lessons to be drawn therefrom. It will prove to be an invaluable aid to all those interested in this subject.
.............................................................................................................................
Contents
Chapter 1. Contracts - general principles
Introduction
General principles
Two routes to a contract
Chapter 2. Structure of a contract
Chapter 3. Preamble
Chapter 4. Interpretation and definitions
Chapter 5. Scope and technical specifications,
Chapter 6. Price
Chapter 7. Terms of payment
Chapter 8. Price variation
Introduction
Price variation versus price escalation
Chapter 9. Bank guarantees
Expiry of bank guarantees and the law of limitation
Safeguards taken by banks
Extension of a bank guarantee
Procedure for custody and review
Stand-by letters of credit
Chapter 10. Letters of credit
Chapter 11. Taxes and duties
Chapter 12. Scheduled delivery date
Chapter 13. Force majeure
Chapter 14. Defaults, liquidated damages and penalties
Chapter 15. Export licence
Chapter 16. Inspection and acceptance
Chapter 17. Shipment
Chapter 18. Passing of title and risk
Chapter 19. Warranty
Latent defects
Chapter 20. Patents and copyrights
Chapter 21. Indemnities
Chapter 22. Spares and spares policy
Chapter 23. Options
Chapter 24. Resolution of disputes
Introduction
Umpire versus presiding arbitrator
Speaking award versus non-speaking award
Finality of award and appeals
Filing award in courts vis-a-vis direct enforcement
Interest on award
International arbitration and foreign awards
Others
Conciliation
Institutional arbitration
Arbitration agreement
Case law
Chapter 25. Termination
Chapter 26. Assignment
Chapter 27. Amendments
Chapter 28. Confidentiality
Chapter 29. Notices
Chapter 30. Governing laws
Chapter 31. Survival
Chapter 32. Effective date
Chapter 33. Contract management
Appendix I - Specimen clauses in a contract
Appendix II - Tendering procedure
Appendix III - Guidelines issued by the central vigilance commission (cvc),
Government of India
Appendix IV - Salient features of World Bank procurement procedures
Appendix V - Salient features of World Bank procedures for selection and
employment of consultants
Index
.............................................................................................................................
Author Details
B.S. Ramaswamy, a Fellow of the Institute of Cost and Works Accountants of India, was a senior officer of the Indian Audit and Accounts Service. He has also served as Joint Secretary and Additional Secretary to the Government of India. During his service, he negotiated and handled a large number of contracts and thereafter, he completed a major assignment on Financial Management Reforms for one of the largest research organisations in the country. Mr Ramaswamy has also converted the system of accounts in six central universities from cash accounting to accrual accounting and is currently engaged in a similar assignment at the Indian Institute of Technology, Delhi and an autonomous training organisation as well. He also lectures on basic accounting precepts, costing concepts, project management and contracts and their management in various professional institutes and universities.
............................................................................................................................. |
