This third edition of Contracts and their Management focuses on the concepts and principles behind each clause in a contract, supporting them with case law to explain the practical side of the subject and the judicial interpretation. The appendices to the book contain specimen clauses in a contract, tendering procedure as prevalent in India, Central Vigilance Commissions guidelines on tender procedure, salient features of the World Bank procedures for procurement and for appointment of consultants (revised up to October 2006). The book provides an insight into the legal issues involved, without making it too legalistic and serves as a handbook of reference to those who are engaged in negotiating contracts and to help them avoid the pitfalls involved. The book has given significant coverage to important decisions of the Supreme Court explaining the lessons to be drawn therefrom. It will prove to be an invaluable aid to all those interested in this subject.