NAME: ZALAVADIYA GUNJAN J.

BRANCH: MECHANICAL

EN. NO. 096550319024

COLLEGE: V.B.POLYTECHANIC NAVASARI

SEMINAR : CONTRACTING

GUAID BY: CHETAN R. PATEL

DEFINITION OF CONTRACTING:
The contract is an agreement between two or more parties. Initial step of which is making of offer by one party and accepance of the offer by other party. It is an agreement between parties on a lawful consideration, to do or to obstrain from doing some work-act, is binding to both the parties. It is a promise or set of promises which the law will enforce.

INTRODUCTION OF CONTRACTING:
When two parties or individuals arrive at an agreement related to carryout certain work, and if such agreement can be implemented by law then such agreement is called contract. In the contract different conditions fir doing the works, which were accepted to both the parties i.e. to the owner & contractor. This contract also includes the details of complete work description; modes of payments and time of executing the work, to give and accept the contract is a serious matter, therefore complete procedure of the contract is considered and taken vary seriously.

SCOPE OF CONTRACTING:

The scope of contracting is to carryout he desired works and making available the needed materials, equipment and services in the right quantity and quality at the right time and at the right place, after giving equal chances to all the suppliers and the contractors as per the purchase or works policy of the management of the organisation of industries. The construction projects like lamps, highways, bridges, shipyards, airports, power-plants, industrial projects and building complex or any other constructional projects can be executed on contract. The materials for the products any readymade components for the products can be purchased from the suppliers on contract basis. Private parties, private and public limited companies and governments organisation can cater their needs of material and construction on contract basis.

ADVANTAGES OF CONTRACTING:
1. 2. 3. 4. Less staff is required by assigning the work to the contractor. The price-variation of any kind, does not affect the work cost. Benefit of the experienced hand contractor is obtained. Competitions amongst the contractors benefit the owner to assign the work at less cost to the contractor. 5. Work can be completed in stipulated time.

6. Work can also be completed as per the work specifications. 7. The work can be assigned to another contractor at the risk of previous contractors if he complete the work in time or run away by leaving incomplete work. 8. Financial investment reduces, which also results into reduction of interest loss and depreciation.