IMCA standard FPSO contracting principles

Contents

• 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