IMCA FPSO contracting principles

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