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The impact of terms and conditions

Published: 15 Feb 2017 Average Rating: unrated Print
 

Author: Tim Cummins

Anyone involved with public procurement knows that the terms and conditions of contract are often onerous and inflexible. Past IACCM research indicated that a substantial price premium results from these terms - essentially, a cost of risk aversion. We also know that the rigidity of contract structure can contribute to costly failures and overruns.

 

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