Typical Contract Conditions

  1. General: Status of the Parties – Contract Assignment - Subcontractor

  2. Performance of the Service: Compliance with the Contract Requirements - Duration – Mobilisation/demobilisation – Measurements and records – Company Property & Equipment - Contractor’s Personnel

  3. Financial conditions: Price structure – Price revision – Price perimeter – Invoicing conditions – Payment terms - Liquidated Damages

  4. Liabilities & Insurances: Various Liability principles – Insurances - Limitation of Liability

  5. Legal Clauses: Suspension/Termination - Force Majeure – Governing and Applicable Laws – Claims - Settlement of Dispute – Liens – Compliance with Laws