Epic Contract Management in Offshore and Marine
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Epic Contract Management in Offshore and Marine Course
Introduction:
EPCIC (Engineering, Procurement, Construction, and Installation & Commissioning) Contract is the most commonly used form of the construction contract. In particular for complex projects, the preferred contract module that is used is EPCIC. Mastering the ins and outs of EPCIC contracts will prove to be an essential tool in driving effective contracting strategies to minimize delays, cost overruns, and liability issues. This EPCIC Contracts Management in Offshore & Marine training course for both Offshore and Marine is specifically designed to address the key issues as they relate to all the parties and stakeholders who are involved in the execution of the contract, and as to the best means available to allocate and manage their risk and liabilities. Under an EPCIC model, the main contractor carries the risks for the project, they must, at the same time minimize these risks through effective contracting strategies.
Course Objectives:
After completion of the course participants will be enabled to:
- Understand the current global, local, and financial environment for EPCIC contracts and assess operational, commercial, legal, and financial risks in EPCIC contracts
- Examine and analyze the difference between EPCIC contracts & EPCM and appreciate the underlying legal principles
- Appreciate the essential element of the different contract stages from pre to post-tender to completion and delivery of project
- Address key issues faced during the project lifecycle and how to tackle these through enforceable contractual clauses
- Avoiding drafting pitfalls and ambiguous contractual terms
Who Should Attend?
This EPCIC Contracts Management in Offshore & Marine training course is suitable for a wide range of professionals but will greatly benefit Contracts Professionals and Project Managers operating in complex offshore and onshore projects in marine and shipyard construction and engineering, whether a beginner or intermediate levels and also:
- Commercial Contract Professionals
- Commercial Operation Professionals
- Contract Engineers
- Procurement Supply Chain Professionals
- Risk Managers / Contract Risk Professionals
Course Outlines:
EPCIC Overview, Legal Framework & Contract Structure and Risk Allocation
- EPCIC, EPC. EPCM Contract Structure and Strategy
- Maximizing Parties’ Rights and Interests
- Contractor’s Single Point of Responsibility and Its Effects on Parties
- Fixed Price Lump Sum Contracts
- Split Contract Structures to Minimize Tax and Legal Exposure
- EPCIC used in Shipbuilding Contracts for “Floaters” and Floating Platforms
- Collaborative Contract Strategies to Avoid the “Blame Game”
Tender Process Leading to an EPCIC Contract
- Legal, Technical, and Commercial Pre-qualification of Tenderers
- Best Practices in Tender Evaluations and Selection of Tenderer
- Important of Scope of Work and Specifications and Terms and Conditions
- Exceptions – What to accept and what to deny
- Finalizing Tender Negotiations & Award
- LOI and LOA Essential Terms and Legal Effects
- Exercise on the Selection Process and Main Elements to Ensure a Successful Tender Exercise
Negotiating Essential Contractual Terms of EPCIC Contracts
- Identifying Critical Issues in the Project Life-cycle
- Managing Cost Impact Clauses like Delay, Price Fluctuations
- Indemnities and Other Liabilities, MAC Clauses, HSE
- Changes in Law and Regulations in the Host Country & Stabilization Clauses
- Political Risk Insurance
- Force Majeure & Termination for Cause and without Cause
Essential Aspects of Risk Management Strategies
- Design, Technology & Process Risk
- Procurement & Specification risk
- Variations and Cost Impact
- Payment and Multi-currency Contracts
- Delay, Liquidated Damages, and Extensions of Time (EOT)
- Completion and Testing & Effects of Acceptance
- Using Contractual Clauses to Manage Liabilities and Risks
Contract Completion – Critical Issues
- Acceptance of Punch List of Defects - What is the effect?
- Passing of Tile and Risk - Safety & Insurance
- Warranties and Guarantees
- Passing of Intellectual Property Rights
- Defects - Exculpatory Clauses
- Dealing with Disputes – Considering the Different Options
- Discussion on Issues Participants Have Faced and How It was Handled
