IMA Conducted webinar on "Fundamentals of Contract Management"

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IMA Conducted webinar on "Fundamentals of Contract Management"

Sunday, January 24, 2021
IMA Conducted webinar on "Fundamentals of Contract Management"

The Social Service Department of Indian Muslim Association (IMA) Kuwait conducted a Zoom Webinar on ‘Fundamentals of Contract Management’ on January 16, 2021.

The guest speaker was Mr. Parvez Hanif who is a graduate in Electrical Engineering with an extensive experience of more than 25 years in contracts management in Oil & Gas and other Industrial sectors. Presently he is working in one of the prestigious Oil & Gas company in Kuwait.

The subject of the webinar was of interest to many as most of us encounters with contracts in our daily life and therefore an overwhelming response was received from Indian expatriates & others in Kuwait, from India and abroad. The key highlight of the webinar was to give an overview & insight of contract management specifically to the youth of our society, professionals and in general to all.

The session covered the definitions, objectives of contracting, role of stakeholders, elements for a valid contract, contracting stages requirements of bonds/bank guarantees and insurance requirements involved in the contract management. It emphasised importance of language to be used which should be precise, clear and concise for an effective contract and provided classification of various types of contracts and their uses for specific requirement by comparing the advantages and disadvantages.

The speaker had highlighted the importance of contract requisition stage wherein the tender package is prepared, returns on the investment, selection of proper contracting strategy, importance of funds availability for successful implementation of a contract.

The above program was highly appreciated by the attendees.

IMA, Kuwait is thankful to Mr. Parvez Hanif, participants and all those who contributed to success in delivering an informative talk on the ‘Fundamentals of Contract Management’ and making this event a success.

Indian Muslim Association (IMA) is a well-known socio-religious Indian organization in Kuwait that carries out its various activities under the patronage of “Ministry of Awqaaf” & “Islamic Affairs”, Kuwait and Indian Embassy of Kuwait. IMA is always keen to provide platform for enhancement of expatriates living in Kuwait for their social & spiritual aspect through various programs & webinars. Its Social Services Department is one of the important departments of this association which carries out welfare services for the Indian expatriates at different levels.

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