Reference no: EM13278738

Reviews of some aspects related in post-tender negotiation and thought on the current procurement policy is effective and appropriate while dealing with procurements for public projects.

In addition to some debate, standard-form contracts have been used and recommended to be utilize, particularly in public procurement.

Standard-form contracts are a common aspect of many commercial relationships because they furnish the parties with some advantages including lower transaction costs, rapid generating tender documents, more familiarity and desire for procurement and contract administrators, reduce information asymmetry, etc.

(Lam, Chan and Chan, 2008; Moore, 2013; Willis, Ashworth & Willis, 1994;). However, there are some scholars that criticized standard-form contracts with regard to their failure to conform to the condition whereby the procurement and contracts are worked (Spiers, 1983; cited in Laryea and Hughes, 2009).

In line with disadvantages of standard-form contracts ( SFC), Laryea and Hughes (2009) reviewed some existing literature, particularly in the UK, on the issues related to standard-form contracts. Consequently, they highlighted that SFCs mostly focused on particular project/procurement styles while the parties, especially the clients, could possibly serious to modify the contract and promoting their particular terms and conditions to the industry or business.

REQUIREMENT: Word count: 350

Reference/Citation: Harvad style