The recent outbreak of warfare in Iraq has caused the production of many letters of intent (LOI) between four big commercial banks and lots of Iraqi businesses. Though these documents may appear as a sign of the financial financing of the projects they aren’t a binding contract. In fact, each individual Iraqi company ought to take all necessary measures to ensure the credibility of the LOI prior to registering.
Security concerns are the foremost consideration in contracting Iraq. Apart from what is happening in Iraq, there are certain other factors that needs to be borne in mind before signing any contract with the Iraqi government. Contractors are encouraged to launch two-way communication stations with Iraqi ministries of finance and trade. They must also know that there are strict regulations and steps for attaining approval for new jobs.
The contract is now signed with the knowledge paperwritings the two sides will utilize custom research papers to assess the viability of their proposed project. This evaluation will be critical in providing comprehensive and accurate information to your investors. A couple easy-to-use forms are provided by the International Institute of Strategic Studies (IISS), to guarantee the credibility of this undertaking.
In this Resource Box you will come across the development-friendly conditions which you want to look for in any project. The Development-Friendly Terms identify the elements that will ensure the longevity of this undertaking. These include sound financial management, a solid business model, direction and performance of the undertaking.
It’s important to be aware that these are essentially 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 sufficient provision for the fiscal security, for example ensuring the financing through any present source of earnings.
Furthermore, a business plan is vital so as to explain how seasoned staff will provide the undertaking. The shipping schedule of the project has to be clearly explained and the dedication of the project owners to fulfill them must be demonstrated.
Besides the budget for your job and the essential financial investment, a business strategy should also emphasize the way the organization will manage its working capital. It is necessary to be aware that most companies who have established contracts in Iraq don’t have the fiscal resources necessary to satisfy with the demand for their solutions and to continue to provide them to the duration of the project.
The Indian businesses 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 several decades now.