Rosemary BealesAssociation for Consultancy and Engineering

THE CASE FOR FORMALITY IN BUSINESS AGREEMENTS

• Rationale for formality

• Know your contract

• Beware bespoke contracts

• Incorporation by reference

• Advantages of Standard Forms

• ACE Agreements

• Key protections - Risk

• Industry norms

• Incorporation of bespoke matters

• Schedules of Services

Alistair DayChief Counsel, UK&IAecom

Key issues for your contracts – an industry perspective

Key issues for your contracts – an industry perspectiveThe “Basics”

• Skill and care – what is appropriate?• Client obligations – what do you need and expect from your client?• Payment terms • Limits on liability:• Overall limit on liability; and• Exclusion of consequential loss

• Third Party Reliance/Collateral Warranties

Key issues for your contracts – an industry perspective

Anticipating the unexpected• Preserving Intellectual Property rights – why is it important?• Getting risk apportionment right – who should take what risk?• BIM • Dispute resolution – key considerations best addressed at contract negotiation

phase.• Never underestimate the Schedule of Services!

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