Supply chains are the lifeblood of modern business. They connect suppliers, manufacturers, distributors, and customers. But they are also fraught with risks. For South African corporates, navigating these pitfalls requires not only operational vigilance but also compliance with laws like the Public Finance Management Act (PFMA), Municipal Finance Management Act (MFMA), Preferential Procurement Policy Framework […]
Tag: procurement
Agreements to Agree Later: Are They Enforceable?
In business negotiations, parties often sign preliminary documents that record their intention to finalise terms at a later stage. These are sometimes called “agreements to agree” or agreements in principle. While they can be useful for setting a framework, they raise serious questions about enforceability. What is an Agreement to Agree? The Legal Problem: Certainty […]