This is title which for me has some small personal history. I saw it in paperback about ten years ago. I read the first chapter or so and thought it was interesting. Unfortunately since I was an impoverished student at the time, I didn't buy it. Which since I didn't see it again I sort of regretted. So when I came across it for the Kindle I had to buy it and finally see if ten years on it lived up to the memory.
The short answer is YES.
First off this is pretty hard science fiction. There are no shields, or transporters and inertial compensator is a funny name for seat belts. The story opens a short time after humanity is contacted by an alien race calling itself First Breed. They wish to share with humanity a colony world and the nations of Earth are being invited to make tender to join this colony.
During the course of the story there really is everything, political intrigue, misdirection and probably a very accurate take on space combat. The writer has pulled off the trick of making aliens actually 'alien' not merely the written equivalent of Star Treks bumpy headed aliens of the week.
It isn't too say it is perfect. The story mentions Earth and you are left with a sense that it is a pretty Balkanised place, it would have better I think if the writer had worked in a bit of background. Particularly in the case of the UK1. But this is a minor point.
In short this is an disregarded classic.