Contractors will be consoled to learn that MPs might soon strengthen the sanctity of contracts and in the process protect them from the whims of fickle governors and MPs who have the habit of cancelling contracts via roadside declarations.
Suppliers of all shapes and sizes have lived under the whims of politicians and their acolytes for a long time and as a result fuelled the culture of kickbacks to protect their business and to deliver public projects for the common good.
But the very MPs, a large group of whom are themselves, contractors, have woken to the reality that the type of financial commitments that come with winning a contract and executing the same on time and on the money, is a difficult undertaking without even involving capricious decision-makers who can change their mind because they have friends who eyed the job, but failed in the tendering process.
The changes will surely reassure banks and insurance firms who have been reluctant to provide the bid bonds that are part and parcel of such complicated financial deals.
If the proposed law becomes law, contractors must strive to operate above board and deliver their obligations on time and on budget.
HISTORICAL QUOTE
“A wise man will make more
opportunities than he finds.”
FRANCIS BACON
The English statesman and philosopher was born on
January 22, 1561.