Contract Analysis and Review
As soon as practical after contract finalisation, Numada carries out a detailed analysis of the full contract document in order to do two things :
- ensure that all modifications created during the evolution from tender to final agreement have been properly noted.
- compile a summary outlining the interpretation of each key contractual element in simple language to enable the project team to better understand, obviating the need for each team member to make his/her own (and possibly different) interpretation.
To minimise contractual risks, Numada clarifies the details of the contract by extracting the key data such as :
- bonds and guarantees,
- site possession, commencement, partial and overall completion dates,
- penalties and damages,
- risks (‘hidden’ or apparent),
- particular conditions,
- other contract specific obligations.
Following the completion of the contract analysis and review, Numada will establish a contract administration system.