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MISSION
 
  • A large proportion of infrastructure projects in India have become the subject of litigation. The lack of effective contract management is often cited as the biggest reason for this.
  • Risk and responsibility allocation in contracts is not fair and balanced. Contract enforcement is weak. Standardisation of contracts is absent. Contract renegotiations have exposed inadequate due diligence and inappropriate risk allocation at the time of formulation of contracts. The provisions in the case of suspension/termination, default, damages, indemnities, etc., are not well defined.
  • However, there seems to be some learning from past experience. Many of the issues can be avoided or at least minimised with proper contract management by paying more attention paid to structuring, risk allocation, monitoring, enforcement, etc. Meanwhile, model concession agreements are being modified based on the changing requirements across infrastructure sectors.
  • The mission of this conference is to analyse the current contract management practices, discuss the recent initiatives and their impact, highlight the key unresolved issues and examine the way forward. The conference will also offer a platform for different stakeholders to share their experience and exchange views and opinion.
 
       
 
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