The book is an attempt to make the prospective project managers familiar with contractual and commercial terms like purchase order, letter of intent, contract agreement, invoices, liquidated damage, bank guarantees, escalation, price variation, arbitration, conciliation taxes and duties, works contract tax, service tax, risk management, insurance etc. and their relevance in management of projects .Equipped with the familiarity with these and other topics covered in the book the project managers would be far more confident when they would be launched for managing a project.