Contract management is a system / process in place to ensure that contracts are managed systematically and efficiently in such a way that ensure that the business does not lose money and capitalizes in available cost saving opportunities. It is of strategic importance both to the organisation and the project.

Corporate governance is a set of rules that define how companies are managed and run. ‘Any organisation needs a governance system that facilitates efficient decision making.’ When managing a business, one needs expert legal advice to set up organisation’s governance systems that are compliant and aligned to the legislative framework. Moreover, one needs expert advice to address challenges that come along the way.

Trusts can exist in perpetuity and provide continuity through generations
– If the trust founder passes away, the assets in the trust do not form part of his/her deceased estate and are not included in the calculation of his/her estate duty (which can be quite costly)
-The assets in the possession of the trust cannot be seized if the trust founder becomes insolvent or if he/she owes any money to creditors – this also protects business assets from creditors
-The value of an asset, such as property, grows in the trust rather than in your personal estate which can be to the trust founder’s advantage tax-wise
– When one dies, normally the taxes and debts must be paid before beneficiaries get anything, which sometimes amount to nothing.
-When the property is held through a trust, such do not apply as ownership does not change per se unless the property is transferred from the trust to individuals. It is the most cost effective way of holding property.
-If the property is rented out such income does not become part of an individual’s income declaration but that of a trust that has its own income and liabilities separate from the founder.