Good Faith (LLC) - Contract Audit Bureau
Channel: Good Faith - Contract Audit Bureau
Date: 2020-05-17

This video is about Why the Contract Auditing is required and how Good Faith helps the company and individual to realise its oversighted benefits. 

As Contract is offer and acceptance between the parties, Good Faith helps industries such as Construction, Energy, Aerospace & Defence, and Film. 

Further, Good Faith helps individual who wants guidance before signing any contract for personal needs such as property and banking. Good Faith is 1st private company in the globe specially formed to provide the Contract Auditing Services.

The purpose of Good Faith is to Prevent Oversights and Bring Incredible Benefits. The fact is that contract error or omission is One of the five most common causes for a dispute. It is due to Oversight. Similarly, the Oversight is one of the main reasons for the company to face many challenges such as loss of profit, Overspending, Loss, and Damages. 

The Oversight can be due to many reasons such as Misunderstanding, Wrong interpretation, Lack of coordination, Lack of resources, Lack of knowledge, Lack of experience, Lack of commitment, Working pressure, Multitasking, Human error, and Fraud. The existence of the Oversight is quite evident from the ever-increasing conflicts and disputes. Thus, identifying and preventing Oversight is vital for the company (Contract Party) to avoid such challenges. 

Good Faith performs numerous Contract Auditing Services to prevent the Oversights. Good Faith prevents strategic, risk, contractual principle, scope, quantity, cost, & legal Oversights. Good Faith performs Contract Auditing during Procurement, Tender, Contract formation, Contract administration, Conflict, Claims, Disputes, and Contract termination (Closeout). Thus, Good Faith performs numerous Contract Auditing Services according to Contract Lifecycle, Contract Elements, Contract Challenges, and Documents.

Benefits of the Contract Auditing are many. It shall Maximise the economic entitlement, Maximise the profit, Minimise an expenditure, Minimise Conflicts, Minimise Dispute, Avoid loss, and Avoid Damages.

 In the Construction Industry, Good Faith serves to Developer, Contractor, Subcontractor, and a Supplier. Similarly, Good Faith serves to any party who wants to prevent the Oversights and identify the oversighted benefits. 

As Good Faith Provides Contract Auditing services for various purposes according to the aim of the Contract Party, it can represent on behalf of the Contract Party as needed such as Advisor, Arbitrator, Claims Evaluator, Conciliator, Dispute Adjudicator, Engineer (FIDIC), Expert, Mediator, Negotiator, and Neutral Party.