All business and or contract relationships are based on a basic consensus or agreement between the parties. However, in the spirit of cooperation and goodwill that exist prior to the commencement of the works, many pitfalls are overlooked. Failing to address and include certain risks in a written agreement will potentially lead to abuse by one or other of the parties or both parties.

Many discussions or negotiations take place before an agreement is reached. Important is that everything that was discussed and agreed to, be included in the contract agreement or purchase order before signing the contract. Any agreement reached must refer to and include reference to the scope or quantity of work, duration of the work, how the payments will be regulated and finally how variations and or additional work will be regulated.

Read the full article: Read now