IMCA issues renewables contracting principles

The International Marine Contractors Association (IMCA) has published a variety of guides, templates and discussion documents regarding the renewables contracting principles.

‘IMCA Renewables Contracting Principles’ documents aim to raise awareness on contracting issues, promote discussion and provide tools that may be useful for IMCA’s contractor members, their clients and sub-contractors.

Renewables contracting principles are based on the FAIR acronym, IMCA’s risk allocation goals, and are as follows:

• Fair (not equal) and realistic distribution of risk in proportion to relative rewards,
• Allocation of risk – to the party best placed to assume,
• Insure – sufficient scope of cover,
• Reasonable – avoid ‘duplicate’ assumptions of risk and minimise potential for dispute.

Jane Bugler, IMCA’s Technical Director and Acting Chief Executive, said: “Each of our Contracting Principles’ documents is published as an aide to clients and contractors alongside their in-house standard contracts and other industry publications.

“As the international trade association representing offshore, marine and underwater engineering companies we have several roles, but view a key one as promoting dialogue amongst the various companies, both clients and contractors, for the benefit of the whole industry.”

IMCA is an international association with over a thousand members in more than 60 countries representing offshore, marine and underwater engineering companies.

Image: IMCA