IMCA standard FPSO contracting principles

  • Introduction
  • Finance
  • Liabilities and indemnities
  • Overall limit of liability
  • Insurance
  • Delay of 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
  • Appendix 1: IMCA competition law compliance policy
Reference(s): IMCA LCIC008
Published:March 2017
Version:New Publication
Grade:IMCA Informative Guidance

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