IMCA FPSO contracting principles
- Recommended Practice
- Revision 0.1 - June 2024
This document outlines fair and efficient contracting practices in the oil and gas industry. These principles are advisory and not mandatory, providing guidance on various aspects of FPSO contracts.
Contents
Introduction
Finance
Liabilities and Indemnities
Overall Limit of Liability
Insurance
Delay and Liquidated Damages
Variations and the Company’s Right to Instruct
Relocation and Tie In (relevant only to L&O)
Warranty (EPC(I))/Repair and Maintenance (L&O)
Subcontracts
Force Majeure
Political Risks/War Risks (L&O)
Acceptance (EPC(I) & L&O) and Payment (EPC(I))/Commencement of Hire (L&O)
Off-hire, Shutdown and Penalties (relevant only to L&O)
Importation
Termination, Suspension and Step In
Intellectual Property and Confidentiality
Anti-Corruption
Revision
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Rev. 0.1 - June 2024Page 2, template and bookmarking updated; no change to content
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Rev. - March 2017Initial publication