Oil and Gas production has always been a necessary commodity from oil exploration to offshore drilling. Theses explorations have led to feature developments that have the major oil companies hiring contractors to help complete the scope of work. A few reason maybe the scope of work is larger task than expected or it requires very skilled workers. However, when introducing subcontractors, one must understand that contract that is necessary to fulfill the actual work. And within the contract there are certain stipulations that must be followed from contract compliance, deviation and change/track implementation. Understanding the contract is very important this will help the oil companies with setbacks to financial cost, production or other …show more content…
As stated by Jones et al. (2006) “Reexamining the relationship between owners and suppliers, which involves rethinking the contractual framework and increasing the level of constructive cooperation so that both parties can jointly address current and future concerns.” Although, setbacks are sometimes inevitable it also good business to reevaluate suppliers if they can’t perform the task necessary oil and gas companies can either modify or terminate the contract to help avoid legal issues or any breach of contracts. It is also necessary to track any changes that have been implemented. Contract management can be challenging but it would high complex if contract were not met. Given the flux environment of oil and gas there are many variables that feed into the contract changes. Whether it be added supplier, added countries, changes in product production track and changes can help with risk management and help with any issues and solutions that are necessary with in the contract to help keep limited liabilities at all levels. Good contracts are one managed and reevaluated when necessary agreements do not meet with required scope of work. I would improve the deviation and changes that occur within a contract to be reevaluated every six month or to follow suite with the contract agreement at hand by supplier and company. This could cut down any unnecessary work and help reevaluate the scope of work and any financial cost. The best part of
In this paper I will discuss the various aspects of a Federal Contract Specialist position and what makes it different from many other government jobs. Some people think contracting is just shopping for a living, however, it requires great skill and attention to detail. Contract Specialists must be able to communicate effectively with their customers, vendors and other contracting personnel and they must be able to accurately interpret regulations and apply them appropriately. This position is a little bit customer service representative, a little bit personal shopper and a whole lot of legal assistant.
Wally, business owner of Windy City Watches is located in downtown Chicago, IL. Business is booming and Wally needs to buy a large quantity of Rolek watches which sell for $50 apiece. He calls Randy Rolek, the wholesaler located in Milwaukee WI. They discuss terms on the phone for a while before coming to an agreement in which Wally offers to buy 100 watches for $25 each. Randy sends over an order form in which Wally states that he is agreeing to purchase watches from Randy for $25 each, but does not include the quantity in which he will buy. Randy sends 50 watches the following week with a note included stating that he has sent 50 watches and will send the other remaining 50 watches within a few days but includes the bill for the full
Bernie a resident of Richmond, Virginia decides to sale his 2006 Ford Fusion for $13,000.00 and places an ad in his local newspaper on February 1st. After several weeks without any inquiries, Vivian contacts Bernie on March 1st stating she will pay him $12,000.00 for the car. Bernie arranges to meet with Vivian on March 5th to complete the deal. Vivian comes to Bernie’s house on March 10th and says she will give Bernie $12,500.00 for the car; but she needs three additional weeks to come up with the money. Bernie agrees but only if Vivian puts down a deposit. Vivian agrees and Bernie drafts an agreement stated the sale will must take place no later than March 31st. Vivian reads and signs the agreement and
Enforceable contract Peter v. Don. Peter will have an enforceable contract with Don if he can show that all the required elements of a contract are present. If there is a contract between the two then it will be governed by the common law requirements of an enforceable contract instead of the Uniformed Commercial Code, which would be used if their agreement had involved the sale of goods. In order for a contract to be formed between Peter and Don the two must react mutual consent Mutual consent can generally be formed through the form of an (A) offer and (B) acceptance. An additional requirement for both parties to show (C) consideration is also
“You are too young to help anybody, and I am too old” (Maclean 81). The novel River Runs Through It by Norman Maclean, written in 1909, is a life changing story that presents criticism of the society of the time and today’s society through the topic of help. Throughout the book, Norman presents the issue and, ultimately, the danger of not helping those in need and being too stubborn to accept help. In the case of the novel, these issues ultimately lead to the death of Paul. So, Maclean wants us to understand that it is difficult to help a person without knowing what to do to help, and if the person is too stubborn to accept it.
Pat was very frustrated because she wanted to purchase a home but lacked the funds or credit to do so even though Pat was expecting shortly to receive a one-half million dollar final installment payment for some land she sold several years earlier. Dan knew that Pat was very interested in purchasing a home and approached Pat with a proposal to assist Pat in buying a home. Dan told Pat that he would help Pat with the financing. After finding the home she wanted to buy for $250,000, Dan and Pat orally agreed that Dan would purchase the home and "when you come up with the money, I (Dan) will sell it to you (Pat) for $250,000 plus a fair commission to be determined."
Synergy should be encouraged between the two departments, as they are working towards the same corporate goal. In order to update Dynamic’s supply management policy, the company should start to standardize their processes. For the newly awarded contract, we should standardize the process of finding a supplier and standardize testing used for supplier evaluation. By putting all suppliers against the same standards, you should be able to determine which supplier can achieve all your requirements. The supplier should be able to produce a product that meets our company’s standards. In the end, after improving these processes, we should award a long-term contract to whoever we determine to be the best supplier because it is a brand new contract. The longevity of the contract should be determined by the supplier’s performance. There are several benefits to standardizing our processes, such as uniform quality, reduced transaction and purchase costs, and improved inventory management. All these reductions and improvements can be redistributed through the company, enabling us to continually improve. This testing had been done for all suppliers, but the Engineering department decided to solely consider Advanced Wires only, which goes against strategic management policies.
As the Director of Long Island and Cypress Hills National Cemeteries, I prepare, justify, and administer a combined operating of $9,259,500.00. Planning and evaluating contracting and procurements can be difficult if not coordinated and monitored correctly. LINC is currently under a large renovation period there are 12 multi-year contracts being managed valued at over $25 million. I oversee three National Shrine Concrete Beam System contracts. The first at Cypress Hills National Cemetery valued at $6,324,083.66, a second contract at Long Island National Cemetery valued at $3,686,856.50 and a third valued at $3,382,940. In addition to these Raise and Realign Millennium contracts valued at $13.3 million, I manage several internal maintenance contracts. The grave repair and fine-tune alignment contracts valued at $715,700.00. LINC’s mowing contract valued at $810,152.00, a mowing contract at Cypress Hills valued at $1,001,355.60, Headstone Setting and cleaning contract valued at $339,815.00, and a trimming contract for Cypress Hills and Long Island valued at $35,661.00. I maintain oversight and manage these contracts through my staff; I have five staff members that are Contracting Officer Representatives (COR). Though they are managing each contract, I conduct contract review and inspections on a weekly basis. To accomplish this I require each COR to complete and forward to me a weekly observation sheet. This sheet tracks all actions related to each contract on a weekly basis to ensure any errors by the contractors are documents and retained. I personally manage two of the larger contracts to provide my employees with a positive example of how to manage contracts. Managing a large number of contracts has provided me with the
Then set attainable schedules, as schedules like “pretty on paper” and are nowhere near reality. Thorough time and cost supervision improves trustworthiness. Per chance implement a specific team to monitor the schedule and budget standards. Then impress upon the team to alert me on any important issues before the next project meeting. Then, I believe that an external body should examine the work being done by the contractors to find any defects. Yes, this project was funded by federal and state money and I am sure that there were engineers and architects monitoring the quality of the work being done. However, from experience, so many short-cuts are used by contractors to save time and money. Furthermore, many inspectors truly do not pay attention to everything. So with this, I believe that fines and penalties should be assessed to the contractors if imperfections are found in the future that are related to craftsmanship. Additionally, fines must be related to the contractor’s inability to meet time lines. However, if the contractor can supply valid issues related to their inability to deliver, fines will not be
In To Kill a Mockingbird by Harper Lee, the mob turns away and goes home because the men were getting distressed by all the questions Scout was asking, and the mob realized that they cared for there children at home. At the courthouse, Scout recognized Mr. Cunningham in the mob. Scout asks him a lot of questions, and talks to him about Walter. Mr. Cunningham does not respond to her right away only right before they leave to go home he says, “I’ll tell him you said hey,little lady,” he said. Then he straightened up and waved a big paw. “let's clear out,” he called. “Let's go home boys.” (154) From this quote it sounds like Mr. Cunningham was getting bothered by Scout asking so many questions about him and his son. It was distressing to the mob
Latin American culture is very different from the culture of the United States. Latinos have very strong morals and remain close to their family members. They believe religion, family, and fútbol are the most important things in life. With that being said, Latinos are very passionate in everything that they do and believe in. When it comes to celebrations, Latinos take this very seriously and they make sure that everything is done with respect. La Fiesta de la Vendimia involves the praising to God for blessing them with a good harvest, celebrating with family, and competition almost as competitive as fútbol.
In order for a contract to be formed, there are various requirements. These are offer, acceptance, consideration, and the intention to create legal relations. A contract may also be terminated.
Lillard, Monique C., Fifty Jurisdictions in Search of a Standard: The Covenant of Good Faith and Fair Dealing in the Employment Context, 57 Mo. L. Rev. (1992)
Rule : : Contract formation requires mutual assent (offer and acceptance), consideration, and no viable defenses to contract formation.
Learning contracts are being used in post-secondary education. Adults approach learning as problem solving and in theory by implementing learning contracts, the student becomes more involved in