The current outbreak of war in Iraq has led this article to the production of many letters of intent (LOI) between four big commercial banks and many of Iraqi businesses. Although these documents may seem as a sign of the financial backing of the projects that they aren’t a binding contract. In fact, each individual Iraqi company needs to take all necessary steps to guarantee the authenticity of the LOI before signing it.
Security concerns are the foremost consideration in contracting Iraq. Aside from what is going on in Iraq, there are certain other considerations that needs to be borne in mind before signing any contract with the Iraqi government. Contractors are encouraged to establish two-way communication channels with Iraqi ministries of finance and commerce. They need to also understand that there are stringent regulations and measures for attaining approval for new projects.
The contract is now signed with the knowledge that both sides will utilize custom research papers to evaluate the viability of their planned project. This test will be crucial in providing detailed and accurate advice to your investors. A couple of easy-to-use forms are supplied by the International Institute of Strategic Studies (IISS), to ensure the credibility of the project.
With this Resource Box you will discover the development-friendly conditions you will need to search for in almost any undertaking. The Development-Friendly Requirements identify the components that will ensure the sustainability of the undertaking. These include sound fiscal management, a sound business model, management and operation of the undertaking.
It’s crucial to remember that these are the elements which will ensure that the project will soon be in operation for a short period of time. This is sometimes achieved by making sufficient provision for your financial security, such as ensuring the funding through any present source of revenue.
Furthermore, a business strategy is vital to be able to explain how seasoned staff will provide the project. The shipping schedule of this project has to be clearly explained along with the commitment of the project owners to fulfill them must be shown.
Aside from the budget for the job and the necessary monetary investment, a business plan should also emphasize how the company will handle its working capital. It is necessary to be aware that many companies that have established contracts in Iraq don’t have the fiscal resources necessary to fulfill with the demand for their solutions and to continue to provide them for the length of the undertaking.
The Indian businesses have experienced a distinct advantage when they engage in contract management in Iraq. The IBEX (Indian Business Exporters) has been working actively with many Indian businesses in Iraq for several decades now.