Procurement

Overview

Manage subcontractor contracts, payments, variations and financial reporting

Key Responsibilities

• cash flow
• budget prep
• subcontract mgmt
• financial reporting
• contract admin
• claims evaluation

Tasks

-To supervise departmental accounting and finance staff in order to ensure the accuracy of reporting of financial data and commercial controls. -Advise and identify potential “claim” situations Finalizing the terms and conditions of the main contract, including price, performance bond, advance payments -Prepare project cash flow forecast -To oversee the implementation and undertake monitoring of Company procedures relating to Commercial matters in order to ensure project compliance and procedures. -Calculate and evaluate Sub-Contractor payment certifications -Liaise with Legal Officer and Regional Manager to ensure compliance with relevant country legislation. -Review of Sub-Contract tenders, supply quotations including negotiation of prices and recommendation of awards. -To oversee the preparation of subcontracts, consultancy agreements, purchase orders etc in order to ensure construction activities progress according to scheduled timelines and budget. -Preparation in conjunction with PD and PMs project budget -To liaise with project staff and departmental staff (construction, design, and engineering) in order to be aware of possible delays, exposure, alteration to cost/value etc. -Draft responses to subcontractor correspondence of a financial or contractual nature -Draft terms of Sub-Contracts, supply agreements, design consultancy agreements -Oversee preparation of subcontract enquiry documents including bills of quantity, incorporate standard terms and drafting of special conditions -Undertake settlement of Subcontractor final accounts including negation of variations and claims -Review and certify Sub-Contractors, Suppliers and Consultant application for payment -To administer contractual and client deliverables and undertake adequate reporting in order to advise management of potential exposures. -To prepare monthly financial reports for project status in order to enable the Company to address any operational issues or undertake appropriate adjustment for financial result for the project. -Oversee the administration of subcontractor payments, instructions, contract negotiations and variations in order to limit financial exposure and ensure performance of subcontractor obligations. -Evaluation of Subcontractor final accounts -Calculation and notification of the costs of variations from Subcontractors

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About Larsen & Toubro

-A small Bombay firm that evolved into a global powerhouse. -Expanded into major infrastructure and industrial projects worldwide. -Delivers EPC projects in energy, transport, and defense. -Notable projects include power plants, metro rail systems, hydrocarbon facilities, and naval vessels across emerging markets. -Subsidiaries like LTIMindtree and L&T Technology Services drive its footprint in digital engineering and consulting. -Known for tackling large-scale, complex assignments in defense, power, urban transit, and marine engineering.

Sector Specialisms