EPCIC Contract Management in Offshore and Marine
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EPCIC Contract Management in Offshore and Marine Course
Introduction:
The EPCIC contract is widely used in construction projects, especially for complex ones. Mastering this contract type is crucial for effective contracting strategies, minimizing delays, cost overruns, and liability issues. This training course focuses on EPCIC contracts in the offshore and marine sectors, addressing key issues for all parties involved. It also emphasizes risk allocation and management strategies to mitigate the main contractor's project risks.
Course Objectives:
At the end of this EPCIC Contracts Management in Offshore & Marine training course, participants will be able 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 with 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
- Avoid drafting pitfalls and ambiguous contractual terms
Who Should Attend?
This EPCIC Contracts Management in Offshore & Marine training course is suitable to 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 at beginner or intermediate levels, and also:
- Commercial Contract Professionals
- Commercial Operation Professionals
- Contract Engineers
- Procurement Supply Chain Professionals
- Risk Manager / 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 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