The current outbreak of warfare in Iraq has resulted in the creation of many letters of intent (LOI) between four large commercial banks and many of Iraqi businesses. Although these documents may seem as a sign of their financial financing of the projects that they are not a binding contract. In fact, each person Iraqi firm must take all necessary actions to ensure the authenticity of the LOI prior to signing it.
Security concerns are the leading concern in contracting Iraq. Aside from what is happening in Iraq, there are certain other factors which needs to be borne in mind before signing any contract with the Iraqi authorities. Contractors are invited to establish two-way communication channels with Iraqi ministries of finance and trade. They must also understand that there are strict regulations and measures for attaining acceptance for new projects.
The contract is currently signed with the knowledge that both sides will use custom research papers to evaluate the viability of the planned project. This evaluation will be essential in providing detailed and accurate advice to your investors. A couple easy-to-use forms are offered by the International Institute of Strategic Studies (IISS), to ensure the trustworthiness of the undertaking.
In this Resource Box you'll get the development-friendly terms that you need to search for in almost any project. The Development-Friendly Requirements identify the elements which can ensure the sustainability of the undertaking. These include sound financial management, a sound business model, management and performance of the project.
It's essential to be aware quality assist that these are the elements that will make sure that the project will be in operation for a brief period of time. This can be achieved by making adequate provision for your fiscal safety, for example ensuring the financing through any current source of earnings.
Moreover, a business plan is vital so as to spell out how experienced staff will deliver the undertaking. The shipping schedule of the project has to be clearly explained along with the commitment of the project owners to fulfill them needs to be demonstrated.
Aside from the budget to the job and the required financial investment, a business strategy must also highlight the way the company will manage its working capital. It is essential to note that many companies which have set contracts in Iraq don't have the financial resources required to meet with the demand for their solutions and to continue to supply them to the length of the undertaking.
The Indian companies have experienced a distinct advantage if they participate in contract management in Iraq. The IBEX (Indian Business Exporters) has been working actively with many Indian companies in Iraq for many decades now.