A must read book for anyone involved in contract drafting and contract management.
This book presents an effective supply chain process improvement model, by providing value for the reader in three ways: First, model contract language; commercial terms and conditions are provided. Second, model contract language is annotated with explanations for each of the key articles. Third, summaries of actual litigated cases are provided in synopsis form. This combination of language, annotations and key case synopses all work together to instruct and enlighten the reader.
This book also facilitates the creation of a project or transaction specific Contract Management Plan. (“CMP”). A CMP is essentially an internal document prepared by either the Company or the Contractor for use by their respective employees in managing the transaction that is the subject of the Contract. The CMP is not shared with the other party since it deals exclusively with the internal considerations and mechanics associated with one party’s administration and management of its rights and responsibilities under the Contract. The CMP supplements the Contract and also permits a documented methodology for applying lessons learned from past transactions.