23.12.2014

News

New name carefully chosen

The Nordic aspect is our strongest characteristic, and the new name had to live up to five basic criteria: It was to have a purely Nordic sound – not an English. It was to be short and precise – and possible to use in ­all main languages. And it was to stand out from our competitors and tell a strong story.

Mission accomplished

We succeeded in finding a name that meets all of these criteria – NJORD.

  • NJORD is a god from the Norse mythology who represents trade, wealth and shipping.
  • NJORD has a clean, Nordic sound and creates clear, Nordic associations.
  • The N in NJORD represents the north direction of the compass, which also defines our main market.
  • NJORD is a short and robust one-syllable name.

In Danish, NJORD is pronounced in the same way as the Danish words for north ("nord") and fiord ("fjord") - namely with a silent ”d”.

The word "fiord" is part of the English language. And therefore, English-speaking persons intuitively know that NJORD should be pronounced in the same way. However, in English there is no silent "d".

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NJORD Estonia: Is non-predictable increase of construction cost the basis for the amendments in the construction contract?

Construction is often a long-term process, going on for years. A lot may change during this period in the surrounding economic and political environment. Therefore, at the time of entry into the construction contracts with a longer term, it is often not possible to foresee the significant future developments and changes occurring in the construction market. The changes may include, for example, the appreciation of construction costs, due to unforeseen increases of construction materials, and labour costs during the execution of the construction contract. Classically, this risk is borne by the contractor.

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