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5 Features of EPC Contracts

Estimated reading time: 3 minutes EPC contracts are the most common form of contract used to undertake construction works of large scale and complex infrastructure projects in the global power industry. Under an EPC contract, a contractor is obliged to deliver the complete facility to a developer who needs to only turn a key to…

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What is the Contract Negotiation Process

Estimated reading time: 6 minutes Contract negotiation is the process in which two or more organisations discuss the details of the contract before committing the terms to writing. The organisations attempt to negotiate terms that are favourable to themselves. When negotiating, each party assesses the risk or benefit of including a particular term. The ability…

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Supply Chain & Commercial Contractual Agreement

Estimated reading time: 5 minutes   Supply chain management (SCM) is the broad range of activities required to plan, control and execute a product’s flow, from acquiring raw materials and production through distribution to the final customer, in the most streamlined and cost-effective way possible. SCM involves the integrated planning and execution of processes to…

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Power Plant

Estimated reading time: 5 minutes   When understanding contractor costing in the international power generation industry, it involves preparing an accurate cost estimate for any project. The preparation of this is a complex process as the cost estimate is based on several key factors. For example, it involves the input of architects and engineers to…

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Industry Petroleum Oilfield Pump Jack Fuel Oil

Estimated reading time: 5 minutes   A PSC (Production Sharing Contract), or PSA (Production Sharing Agreement), creates a contractual relationship between an IOC (International Oil Companies) and the host country, authorising the IOC to explore for and exploit hydrocarbons in a defined area and for a defined period. By definition, a PSC is a contract between…

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Laytime and demurrage

Estimated reading time: 5 minutes   Laytime and demurrage are traditionally one of the most contentious issues in the shipping industry, owing to the frequency with vessels are delayed in port, the cost caused by such delays, and the often ambiguous wording in charter parties and contracts for the international sale of goods. To maintain…

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epc-construction-contracts

Estimated reading time: 6 minutes     There are several key success factors to manage EPC contracts. These types of contract are often referred to as Engineering, Procurement and Construction (EPC) contracts or Turnkey contracts. A properly drafted EPC contract ensures the contractor have limited ability to bring claims for extensions of time and additional cost. Organisations are…

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Production Sharing Contracts

Estimated reading time: 3 minutes   The Production Sharing Contract is one of the most significant form of legal contracts/agreement to be found in the oil and gas industry. The purpose of any contract is to establish the rights; duties and obligations of the parties are in terms of both performance and conduct. By definition, a…

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Oil Rig Plant

Estimated reading time: 3 minutes   Refineries, petrochemical plants and power plants are all major investments. Ongoing care and maintenance of the assets can involve up to 50% of the initial capital investment over the life of the plant. Increasing use of process plants by contractors is used to so support the maintenance and turnarounds…

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B2B sales negotiations is not a simple task. It requires careful steps by both the seller and buyer. How can we ensue success in our contract negotiation? Here are some tips to aid you in your negotiation process: – Enter a negotiation when you have an agreement in principle In a negotiation, discussion on pricing…

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