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From tender to contract

The contract generally consists of the following parts:

• Contract signature pages (1-2 pages only) ;

• general contract conditions (e.g. World Bank contract for "PLANT" equipment, FIDIC, etc.);

• special conditions supplementing and revising the general conditions ;

• specifications.

And appendices :

• price list ;

• performance guarantees ;

• contractual deadline/planning ;

• models (bank guarantees, acceptance certificate, etc.).

The contract covers legal aspects (limitation of liability, consequential damages, compensation, applicable law and jurisdiction).

It deals with dispute resolution, arbitration and mediation.

Liquidated damages for delay or non-performance are stipulated.

It is also necessary...