The "Fundamentals of Shipbuilding Contracts" is a free publication from the Fisher Maritime Consulting Group, of interest to anyone new to creating or managing shipbuilding contracts as well as those with prior industry experience. The 30-page publication discusses issues from Risk Assessments to Retainages, from Specifications to Schedules, from Intellectual Property ("IP") to Industry Standards, and more. The following is an extract from the publication:
"The ultimate outcome of the work product of vessel design engineers, shipbuilding contractors, equipment suppliers, vendors and subcontractors is controlled through the mechanisms defined by a shipbuilding contract. The contract defines the rights and responsibilities of the two parties that execute the contract, the Owner and the Contractor. The Owner's design engineers who continue on the project, as well as all the other organizations participating in the project, have to work within the boundaries of their contractually stipulated rights and responsibilities. If those rights and responsibilities have not been adequately defined during contract formation, each participating organization may not be able to make its contribution to the project in the manner it anticipated..."
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