Recognizing Contract Risk and Opportunities

      The contract would be considered as an oral or formal written way to exchange promises between at least two parties or refrain from doing an act, which is enforceable in a court of law. (Wikipedia). The parties of the contract must read and fully understand what is written in the contract before agreeing to its term and sign. The contract parties are allowed during the negotiation process to make any kind of changes or add new terms but once the parties agreed and signed the contract upon the deal is sealed, the contract management simulation and creation serves to ensure and highlight the importance of reviewing on the existing contract or the new business contract to keep away any misunderstanding. It is [Expletive construction--"there is," "there are," "there was," "there were," "it is," or "it was" are phrases that mean nothing. Unless "there" or "it" is a place or a thing, the composition will be much more concise if rewritten to eliminate such phrases.]   ["It" must refer to a specific word in the sentence or the reader can become confused by the vague pronoun reference. Example – It demonstrated his recent achievement. (This usage is incorrect because "it" does not refer to a specific element in the sentence.) When Victoria received her diploma, she put it in a frame.   ("It" clearly refers to the diploma.)]   very vital for the parties to study and review the contract before they reach an agreement in order to make sure that the contract is beneficial for all parties and for the success of the contract.

Recognizing Contract Risk and Opportunities

MEMO TO:   Citizen-Schwarz AG
FROM:   Project manager, Span System

DATE:   July 31, 2009

SUBJECT:   Contract Creation and Management

      Span System and Citizen-Schwarz AG (C-S) agreed to a one year contract and signed it, it worth six million dollars; however, the agreement for this contract has not been going as both parties expected. Leon Ther, Citizen-Schwarz AG biggest influential...