2. About CREDICON
CREDICON CONSULTING is a multi disciplinary consultancy
in support services to Engineering and Construction
Industries. The services offered include,
• Contract Management, Planning,
• Dispute Resolution,
• Expert Witness Services,
• Arbitration and Litigation
• Programming/ Scheduling,
3. Our services include:-
• Pre-contract consultancy in advising strategies for delivery of the
project
• Tender strategy and evaluation
• Risk Identification Analysis and Mitigation
• Cost and Value Management
• Performance Bench Marking
• Contract Administration, Cost Engineering and Quantity
Surveying
• Project Change Control
• Due Diligence Studies
4. When You Need an Industry Insider
1. We are active in many sectors, you will not need
to spend time educating us.
2. Our deep and varied experience allows us to hit
the ground running, saving time—and far more
effectively.
3. We have won major trials and appeals for
infrastructure, oil companies in an array of sectors-
Power Generation, Airports , Highways and Roads, Bridges ,Elevated Structures,
Buildings & Towers , Factories & Industrial Works , Tunnels , Pipelines , Dams &
Barrages , Canals & Aqueducts ,Lift Irrigation , Oil & Gas..Etc
4. Simply put, we know our clients' businesses.
5. On the Ground Where You Need Us
Our Practice includes our highly-rated litigators and regulatory.
Practitioners and experts across the country (Mumbai, New
Delhi ,Chennai, Bangalore etc. among the many locations).
This ensures that any exposure across your operations is handled
by one team.
Our Litigation & Arbitration practice has a long track record of
achievement in complex, high stakes disputes.
With more than 70 associates based in 40 locations throughout
the country , we bring exceptional industry knowledge and
provide leading edge advice.
6. On the Ground Where You Need Us
The Practice has genuine depth of local law compliance capability
that no other major firms can match.
Because our legal associates are leaders in their local jurisdictions
and function across offices as one team, we are positioned to
deliver both local insight and global perspective to meet our
clients' interests in multi-jurisdictional matters.
7. Our Experience
We also have extensive experience representing for
and against government agencies, such as
Airport authority of India NTPC
National highway authority of India NHPC
Bharat heavy electrical ltd. NBCC
Steel authority of India. NPCC
ONGC NMDC
OIL India limited Tehri Hydro
Gail India ltd RVNL
Singareni colonies ltd KONKAN RAILWAYS
Coal India ltd and many more public and private companies.
8. CONSULTING SERVICES OFFERED
BY CREDICON
• CONTRACT AUDIT SERVICES
• DISPUTE MANAGEMENT AND RESOLUTION
• EXPERT ADVICE
• ALL ENGINEERING MANAGEMENT SERVICES
9. Construction Business Overview
• Most Construction companies report a net profit of < 10%
• Arbitral Awards are usually between 30 - 70% of Contract
value which matches net margin expectations in the industry
• Often neglected either due to lack of resource to manage
the claims or conscious restrained approach not to
displease the client.
• This itself is a sufficient reason to focus attention on
asserting the contractual rights so as to recover the cost
incurred due to defaults of employer or client
10. Business Overview
• With International Competition for both Domestic and
Overseas contracts, protection of margins is critical for
business sustainability
• Claims have to be established in the contemporary period-
in specified timelines precisely with records to be
maintained in the manner required.
• This requires a concurrent approach with an eye on day
to day events during the currency of contract alongside
constant monitoring.
11. Business Overview
• This is all the more reason why Contract Management
practices have to align with the contemporary global
best practices.
• Navigating a claim arising out of asserting a right has to be
with needed expertise and once that is assured, the efforts
that go into, will yield either reasonable settlement or
claims with high potential for success
13. Why we need contract audit?
• To enable evaluation of preparedness of
contractor in tackling the risk associated with
time and cost overruns.
• This includes review of methodology for measuring
the work, billing process, review of critical
correspondence relating to allegations of opposite
party, claim submittal process, contractual notices,
claim basis and quantification.
• This also involves computation of damages for delay
in payments and reconciliation of various recoveries
and deductions.
14. Why we need contract audit?
• Specialists from CREDICON will visit construction sites
from time to time and also hold outside conferences,
site audits, conferences at controlling office and
periodical tele-conference in getting weekly reports,
monthly reports and all dash board diagrams, which
will be shared with top management.
15. Why we need contract audit?
• We will study the contract document very
closely, which can reveal pitfalls and windfall
opportunities.
• We will help you in minimizing the risks from
pitfalls and maximizing the gain from windfalls
wherever possible.
• We will alert the management and employees
whenever needed.
16. Why we need contract audit?
• Most importantly, we will maintain contract
records and correspondence. These records
will help top management to take control of
the project any time, if site manager / project
manager exits his job anytime during the
project.
17. Our audit services and benefits
1. Contract deliverables audit: This is an initial review at any stage
before any change or planning is to be carried out, resulting in
identifying "Scope" or what is to be delivered and what not.
2. Measurements and billing audit: This is for checking and listing
various "Methods of Measurement" and billing procedures as per
contact. This will help you save money by best measurement
practices. This will also result in billing forecast and audit for work
done..
3. Program and delay audit: This is to check, recommend and develop
the best possible plan and schedule as per global standards. During
implementation of the project, to conduct delay analysis and apply
for Extension Of Time or costs. This will help in controlling delays
and save on the final delay disputes and claims as a benefit to the
company..
18. Our audit services and benefits
4. BOQ and Variations audit: The contract BOQ or the BOQ
developed by contractor for milestone billing needs to be
rechecked with construction drawings when a variation
item is approved. The unit rates used in the pricing have to
be worked out based on the works that will be executed.
In many projects, new rates have to be analyzed to price variation
where cost engineering estimates will be of use. This service will
allow the user to have a better analysis and third party audited
quantities and unit rates. As an option the cost to price variances
can also be reported if this benefit is required by the user of the
services.
19. 5. Contemporary Record Audit: A third party audit is recommended in
all projects to build up the contemporary records, which will
include but not limited to Daily reports, schedules, Minutes of
meetings, instructions, request of information, transmittals of
approvals, quality audit/assurance checklist and documents as
required by the contract.
The benefit will be that upon the occurrence of an event giving rise to a
delay of cost addition, the contemporary records and related
documents will be kept in sequence for future-reference.
.
Our audit services and benefits
20. 6. Project Closing Audit: One of our consultants will spend time at site
or office where all records are maintained and audit to see if
the records, billing, variations, claims if any are all kept in an
organized and systematic manner and write a report.
This service will allow the company to build a knowledge base for its
future projects and this will be the direct benefit. Thus ensuring our
clients an experience based contract management support. We
undertake services in close coordination with the clients at all stages.
Our audit services and benefits
