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What are the salient matters contained in an engagement letter in comparison to standard business contract?

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Question added by edward apaa
Date Posted: 2016/11/09
Nazmul Islam CMA
by Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

The following are main areas covered in an engagement letter.

  • Scope of the function.
  • Time frame.
  • Financial compensation.
  • Obligation specified to each party etc.

Tamer Elbeshbishy
by Tamer Elbeshbishy , Financial and Administration Manager , Muscat Towers Holding Group

I think it is very general question . Thank you for the invitation .

Most of the important issues to be stated clearly to avoid any future misunderstanding or stopping of the business are ;

1- The exact needed subjects from making the new contract

2- The role of every party

3- The amount of financial obligations for both of them

4- The exact date of the process and the progress plan needed

5- The date of closing the contract

6- The obligation of every party  to do in case of any delay or executed jobs, if any.

 

Thank you.

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