Managing risks: how to select the appropriate dredging contract
Contracts for dredging and offshore works are diverse. Moreover, increasing financial and/or managerial constraints require contracting parties to change the apportionment of commercial risk. Contractors and suppliers have to adapt to contracts that are chosen unilaterally by the owner. Turnkey and engineering, procurement, and construction (EPC) contracts are becoming more common in the industry and bring their own benefits and challenges.
FIDIC Blue Book (Second Edition)
“Facts About: FIDIC Blue Book (Second Edition)” describes a standard form of contract for projects involving dredging and reclamation work which also offers guidance for the contracting process.
Alliance Contracts
“Facts About Alliance Contracts” describes how this type of contract can shape a collaborative process that promotes trust between clients and contractors.
Valuing Variations In Dredging Contracts
Variations are essential in dredging contracts and they have the potential to generate extra costs and pose significant delay to projects. So, what is the best way to go about reaching a fair valuation in variations in dredging contracts?
Design/ Build & Other Types of Dredging Contracts
Contracts for dredging projects can include design, construction, finance, operating and maintenance, as a totality or in a combination of parts.
Dredging and Maritime Construction Contracts
Dredging contracts may be based on a variety of local and national regulations. When working internationally the FIDIC contract is the accepted norm.
Day Rate, Cost Plus and Charter Contracts
Day rate, Cost plus and Charter contracts each have specific applications that determine how the contractor is paid and who is managing the project.