Monthly Archives: June 2016

Incoterms® EXW (Ex Works) Expert knowledge is required by those using any of the Incoterms®. We highlight the pitfall(s) for those nominating EXW as the basis for the deal. What does it mean? At first sight it seems simple. All Incoterms® define the responsibilities of buyer and seller. A common misunderstanding is that with EXW […]

Due Diligence This is a term more usually associated with financial transactions, such as business acquisitions. It is unthinkable that anyone would purchase a business without conducting due diligence. Due diligence may be defined as: Due diligence serves to confirm all the material facts with regard to a tender for the provision of goods or […]

BID (TENDER) BONDS This is a debt secured by a bidder for a construction project or other large ‘project’ on a tender based selection process for providing a guarantee to the potential client that the bidder will take on the contract if selected. If they decline to accept the contract the bond is forfeited, unless […]

The most extreme example of not knowing who is on a site occurred  at a client organisation. Two men arrived at a reception. They were dressed in white coats and told the receptionist they had come to take away the computers for repair. Unbelievably they were given unchallenged access! They took away the computers – […]