When entering into an agreement within the function of contract management, it is important to be aware of the express terms as these define the duties and obligations of the parties concerned. It is also important to be aware of the standards of service normally expected through custom and practice, detailed in professional Codes of practice or advisory papers and set out in statute or common law as they will have a bearing upon what implied terms may exist within an agreement. It is important to be aware that through the use of collateral warranties or the Contracts (Rights of Third Parties) Act contractual obligations may be owed to third parties. Finally there is always a potential of being found liable to third parties through the tort of negligence.

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