Friday, August 6, 2010

The Non-Legal Fine Points of Contract Negotiations and Management


New-build and major refit contracts can be bulletproof from a legal standpoint, yet still fail to result in successful project completion.

There are a number of critical non-legal issues which need to be handled correctly, if a project is to be brought to a conclusion that is ultimately satisfactory to both the boatyard and the vessel's owner. These include:

- Defining the Scope of Work
- Setting project schedules
- Estimates vs. quotes
- Time & Materials vs. fixed-price
- Comparing quoted pricing
- Emergent work and change orders
- Milestones and progress payments
- Surveys, classification, and industry standards
- Engineering and specifications
- Inspections and final acceptance

In this course of this post and several to come, I'm going to talk about these issues from both the standpoint of a yard owner/manager, and that of a yacht owner/captain. And I'll introduce you to some real-world examples that illustrate critical do’s and don’ts in these areas.
Along the way, if you have particular questions you'd like to raise and discuss, just drop me a line.

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