Qatars ASTAD has launched SANAD, an integrated suite of four contract templates covering construction, design and build, design services and professional services.
The system has been developed to guide and support contractual procedures, encourage seamless processes and promote fairness and equity between parties, according to a statement from the project and asset management firm.
The launch was patroned by Deputy Prime Minister and Minister of State for the Council of Ministers affairs His Excellency Ahmed Bin Abdullah Bin Zaid Al-Mahmoud.
ASTAD Chief Executive Officer, Engineer Ali Al-Khalifa, said: SANAD aims to act as a supportive tool within the construction industry, refining contractual procedures within Qatar and the region, while simultaneously utilised as an educational reference, further supporting our nations vision to promote a knowledge based economy.
SANAD has been three years in the making and was reviewed by more than fifteen leading international legal and insurance firms in the construction industry along with the SANAD team who each has 20 years of contract expertise, coupled with real experiences and lessons learned.
ASTAD developed SANAD specifically for Qatar but it can be customised to suit any construction project across the region. It complies with local laws and global best practices.
Engineer Abdulaziz Al-Mulla, a respected expert in contracts, and Chief Commercial Officer of ASTAD, said: SANAD aims to bring all parties involved in a project together by reducing costs, maintaining fair appropriate risk for all parties and offering more balanced contract terms and conditions.
It solves the key challenge of standard contracts in the region – inequitable and inefficient tender documents while providing users with its original purpose to support and improve traditional contractual procedures.
ASTAD is a project and asset management firm with in depth experience of the unique contractual challenges faced within Qatar and across the region.