Conditional payment clauses are also called pay-if –paid provisions. These are one of the most contentious construction contract provisions (Brennan, 2008). They are applicable in contractor-subcontractor contracts where the contractor agrees in writing to only pay the subcontractor, once he has been paid by the owner of the construction project (Brennan, 2008). The agreement places on the subcontractor the duty of completely abiding by the provision. The clause seeks to create an obligation on the general contractor to only reimburse the subcontractor once the proprietor of the construction project has paid him.
24). The contractor is paid for all of its allowed expenses to a set limit, plus additional payment to allow for a profit. The FAR prohibits the use of cost-reimbursement contracts to acquire commercial items. The cost reimbursement contract is considered high risk for the government because of the potential for cost escalation and because the government pays a contractor’s costs of performance regardless of whether the work is completed. The two major reasons for the inability to estimate costs accurately are the lack of knowledge of the work needed to meet the requirements of the contract (for example, research contracts which involve substantial uncertainties), and the lack of cost experience in performing work (for example, the development of a weapons system where manufacturing techniques and specifications are not stable enough to warrant a fixed-price
Furthermore, the consequences of ineffective management by the construction manager will also directly affect the client, should delay or claims for additional payments to trade contractors occur as a result. Accordingly, the client must be sufficiently disciplined and resourced to provide its inputs into the project as required by the agreed information release schedules. They must also ensure that they appoint a construction manager with the appropriate resources and experience and a positive approach – a task that is challenging for many clients, whether experienced or not. Advantages and disadvantages of CM Construction management stands at the top end of the scale with respect to a client’s risk exposure but potentially offers substantial advantages. However, most of these benefits, set out in the table (below), are only secured by direct client engagement and action, and therefore may not be secured by all clients following a CM strategy.
For instance, you could be liable if you distribute the products out of the deadline, or if the things are faulty. It is likely for him/her to set terms in his/her auctions contract to prevent himself/herself from a lawsuit if the exacted products fail. It is clearly illustrated by the fact that he could contain a term, which clarifies if he/she is responsible for the delay or any other problem that it could happen in that period. This type of term is known as an 'exclusion clause’. In this occasion, somebody could comprise “limitation clauses” restricting his/her accountability, by declaring that in the case of an accident,
Code of ethics Code of ethics says or states the principal and expectations governing the behavior of individuals and organizations in the conduct of internal audit. Code of ethics is started by setting out the values that underline the code and will specify the company’s obligation to its stakeholders and employees and other people connected to the company .The code is publicly made available and addressed to anyone with an interest in the company’s activity and the way it does business. It will specify details of how the company plans to implement its value and vision as well as guidance to staff on ethical standard and how to achieve them. Ethical code are mostly adopted by management not to promote a particular moral theory ,but rather
Leaders must work hard through hiring, training, and performance management systems to bring in the right employees and then help employees internalize the organization’s underlying values. Ethical leadership from the top is very important- because it creates an environment in which lower-level ethical leaders can flourish- but ethical leadership at the supervisory level has a huge impact on followers’ attitudes and behavior. Unethical Influences Companies rely on employees to produce and deliver high-quality products and services. Employees are impacted by a variety of forces—both internal and external—as they attempt to perform their job duties. Employers who are aware of these forces, and who are prepared to leverage or counteract them, can increase productivity and loyalty.
When you get injured on the job or you believe an injury is due to your work, it is important to file a workers compensation claim immediately. Certain states have a time frame in which you need to file the claim in order for it to be valid. Once you file a claim, this does not mean that this is all that you need to do. After filing the initial claim, the workers compensation office will need you to provide material to support your claim. This involves a lot of paperwork that can easily become overwhelming if you are unable to stay on top of it.
Another option would be to take them to court claiming promissory estoppel. Furthermore, claim that due to a promise that the manager was depending on, that the defendant failed to keep, the company lost money and profits and should be held responsible even if the promisor claims that it should not be legal (“Promissory Estoppel,” 2010). Either one of these options the store would prevail on due to the nature of the contract and that it was for the transfer of good from Mr. Stevens to the
Narcissists might become leaders after they help to remove the company’s uncertainty, but their qualities would totally become useless once the uncertainty is gone. Moreover, their interest of taking high risk would hurt the company in the long term. Risking is like a gamble that could be win or lose. Therefore, if the narcissists lose the gamble, the company would in a big trouble, and even bankrupt. In the article “Narcissistic Leaders”, Michael Maccoby wrote an example about narcissistic leader.
Ethical principles are universal standards of right and wrong prescribing the kind of behavior an ethical company or person should and should not engage in. These principles provide a guide to making decisions but they also establish the criteria by which your decisions will be judged by others. In business, how people judge your character is critical to sustainable success because it is the basis of trust and credibility. Both of these essential assets can be destroyed by actions can be, or are perceived to be unethical. Thus, successful executives must be concerned with both their character and their reputation.