Contracts and their Management focuses on the underlying concepts and principles behind various clauses in a contract, supporting them with case law to explain the practical side of the subject. The book serves as a handbook of reference to those engaged in contract negotiations, contract management, procurement and implementation of projects in public and private sectors. The present edition examines the changes introduced by the Arbitration and Conciliation (Amendment) Act 2015 in the context of contracts and their administration. It covers all significant decisions of the Supreme Court. The appendices to the book contain specimen clauses in a contract; rules relating to public procurement, national and international competitive bidding; updated Central Vigilance Commission guidelines on tender procedure; common flaws in contracts; and salient features of the World Bank procedures for procurement of goods, works and non-consulting services and for appointment of consultants. The book will not only serve as a handy reference to experts dealing in contractual relations but also introduce to beginners the generally accepted principles and key elements in a contract. This book will be an invaluable reference for lawyers, senior executives and managers in engineering, procurement and finance.
B S Ramaswamy, a Fellow of the Institute of Cost Accountants of India, has been a senior officer of the Indian Audit and Accounts Service. He has served as Joint Secretary and Additional Secretary to the Government of India as well as held senior positions in the public sector. During his service, he negotiated and handled a large number of contracts, and completed a major assignment on financial management reforms and delegation of powers for the Indian Council of Agricultural Research (ICAR). He has to his credit the distinction of having converted the accounts from cash accounting to accrual system of accounting in seven central universities and the Indian Institute of Technology Delhi. He has also helped over 20 central autonomous organisations and universities in the conversion of their accounts to the accrual system. He regularly delivers lectures on basic accounting precepts, costing concepts, project management, and contracts and their management in various professional institutes, research organisations, universities, and in-house programmes organized by public and private sector companies. He has written Accounts Manuals for the Indian Institute of Technology Delhi, the National Productivity Council and the Worldwide Fund for Nature, India.