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.
When is an Escalation Clause Necessary? Dealing with Price Fluctuations in Dredging Contracts
Unexpected costs resulting from fluctuations in prices for raw materials,fuel and labour can add extra financial risks for dredging contractors and clients.