on termination
In the Open Standard
Francis Moyalan, PMP,PMI-SPMember for 21 years 8 months
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hello there,
the case goes something like this...
my company got a road project in the year 2001,
completion date was in 2003,
project got delayed due to concurrent delays...
i.e both from contractor’s as well as from client’s side...
in this year the employer took the decision to invoke the performance guarantee and encashed it...
arbitration was going on before encashment...
in this situation can the company get any claim if it’s going with the arbitration?
I will be thankful for any sensible suggestion on this issue,
bye
the case goes something like this...
my company got a road project in the year 2001,
completion date was in 2003,
project got delayed due to concurrent delays...
i.e both from contractor’s as well as from client’s side...
in this year the employer took the decision to invoke the performance guarantee and encashed it...
arbitration was going on before encashment...
in this situation can the company get any claim if it’s going with the arbitration?
I will be thankful for any sensible suggestion on this issue,
bye
2 replies
Oldest first- 0Shahzad Munawar ·Hi francis
1) Firstly this all depends upon that what your Contract Provisions says upon termination
2) Secondly you can claim your damages/losses arisen from such termination if your Contract possess Clause of Termination for convenience of Client which stipulates that the Contractor can submit a Final Termination Settlement proposal to the Client.
3) Thirdly in case of such termination, arbitration is only one way where you can cover your lossess if prove.
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