Legal and Contract Management
The third category of Forsat services is legal and contract management including:
Preparing Contract Check List
This is the case in many contracts that terms and conditions of the contracts are so exhaustive and complex that only high rank manager may understand them. This may result in accepting unnecessary responsibilities and/or loss of rights.
Contract check list creates comprehensive documents providing a cohesive insight to the contract for each department.
Preparing Contract Risk Analysis
As contracts are the products of negotiations compromising both parties’ fronts, there always is a degree of risk associated with contract for each party. Such risk should be dealt with and managed reasonably.
Contract Risk Analysis report enables managers to fully appreciate underlying risks at the time of conclusion of the contract.
Risk management is an exclusive service provided by the institute. Scrutinizing technical and financial conditions the institutes identifies potential risks and offers solutions for best management of such risks.
Modification and Amendment Management
In the course of commercial dealings, it is sometimes necessary to amend and modify contract terms to suit changed circumstances. The institute drafts such necessary amendments taking into account peculiar circumstances of the contract and concerned project.
Claim management services cover financial claims, planning claim management in way to minimize financial loss and reclaim contractual damages.