This fourth 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; public procurement, national and international competitive bidding; Central Vigilance Commission guidelines on tender procedure; flaws in contracts; salient features of the World Bank procedures for procurement and for appointment of consultants. The present edition contains the CVC Guidelines up to 2012 and the World Bank procedures as revised in January 2011. 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. We are confident that this book will prove to be an invaluable aid to all those interested in this subject.