IMCA Offshore Survey Division

Publication Details

European Survey Work Contracting Principles

This document has been published to raise awareness on contracting matters among the members of IMCA's Offshore Survey Division and their clients.

The principles are for guidance only and are not binding. Each IMCA member is free to enter into whatever contracts it deems to be in its own interests.

Areas covered include:

• Cross Indemnification
• Consequential Loss
• Third Party Liability
• Defective Work
• Pollution Liability
• Overall Limitation of Liability
• Guarantees and Warranties
• Parent Company Guarantees: Bank Guarantees/Performance Bonds: Retention
• Liquidated Damages for Lateness/Delay
• Termination of Contract for Convenience
• Payment Terms
• Suspension