Contract Mangement in Construction

Managing Relationships and Risks

Contract Management is the need of the hour as well-managed contracts often save the hassle of claims & disputes, and help projects being executed smoothly. Construction Contracts not only include the obligations of the parties in agreement but also incorporate terms, costs, and schedules for execution. If a contract agreement is well-drafted, fairly divides the obligations, and is administered & monitored continuously, it acts as a first measure against claims, and assists in an amicable settlement in case any claims arise. 

However, the importance of Contract Management is still underrated, and the process ignored until the time aberrance occurs that may lead to disputes and financial loss to the stakeholders. The contract experts at Contract Square play a critical role in the administration and execution of contracts.

Contract Management at Contract Square:

  1. Contract review and continuous monitoring & evaluation to ensure perfect execution within the project scope and keeping track of any deviance from the same
  2. Examining the site conditions to check for any variation therein and recording the same
  3. Identifying and documenting any changes in scope, quantity, engineering drawings, approvals, etc. that may cause delays, leading to construction claims
  4. Keeping track of any willful neglect, delay, interruption, or suspension of work on the part of the owner that may become a cause for filing a claim
  5. Ensuring complete compliance on the part of the client to avoid any inexcusable delays
  6. Identifying and documenting any delay or loss due to Force Majeure events
  7. Routine audits & on-time contract compliance
  8. Identifying contractual risks & taking constructive steps to minimize the same 
  9. Documenting evidence & vetting all Claims related correspondence & communication between all parties to stake & strengthen your claims
  10. Examining records & evaluating any correspondence & documentation to contest any counterclaims or penalties filed by the employer/owner
  11. Archiving critical records and documents in our searchable digital contract repository at Contract Square for safekeeping and easy retrieval

Our specialists at Contract Square understand that Contract Management is all about minimizing risks and strengthening relationships. It involves unrelenting documentation, regular correspondence with all parties, research & analysis for risk evaluation, and expert guidance of qualified professionals in the domain to oversee any future requirements. We balance costs, and prevent any delays & losses, to ensure the financial viability of the contract for all stakeholders. We manage the day to day contractual obligations while keeping an eye open for any claims coming up in the future. Any delay, variance, or deviance from the contract, that may cause loss of time & money for our clients, is nipped in the bud, and claims prepared for the same. Our focus is on taking over all the paperwork, fill the gap between delays & claims, and help our clients execute the contract with the complete financial stability & profitability.

Reach us at Contract Square to review and analyze your contracts, fill the loopholes, and identify claims for receiving successful settlement awards.