peter c hunter bwea offshore wind conference – march 2003 approaches to offshore contracting
TRANSCRIPT
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Peter C Hunter BWEA Offshore Wind Conference – March 2003
Approaches to Offshore Contracting
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Peter C Hunter BWEA Offshore Wind Conference – March 2003
Approaches to Offshore Contracting
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The Contractual Triangle
Man
ufac
ture
rs Contractors
Developers
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The Contractual Struggle
Man
ufac
ture
rs Contractors
Developers
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Negative Contractual Struggle
AgreementMan
ufac
ture
rs Contractors
Developers
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Positive Contractual Approach
AgreementMan
ufac
ture
rs Contractors
Developers
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The Distorted Contract
Man
ufac
ture
rs Contractors
Developers
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BWEA Offshore Wind Finance Forum
• Identified distortions
Single contract structure
Joint & Several Liability
Geotechnic risks
Lack of risk appreciation
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BWEA Offshore Wind Energy
“That seemed like a good idea.
I wonder why it never happened ?“
Our grand-childrens‘ reflections:
Scorched Europe 2003
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Offshore Wind - Stalled
MikeLeffel©2001
Now look what a fine mess you‘ve got us into !
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EPC / Turnkey Tenders
A Reverse Bid Bond !
Murmurs of discontent
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Offshore ContractingThe Way Forward:
• Continued dialogue
• Standard Form of Contract
• Eliminate the Unknown
• “A Road Map to Peace“
• Developer / Financier Confidence
• Measured Risk for Contractors
• Manufacturers Confidence in the Future
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Standard Form of Contract
• UK Only or,
• Pan European ?
• All sides of the triangle to be represented
• Speedy progress essential
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Offshore Contract Conditions
Standard Form of Contract
Conditions of Particular Application
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Offshore Wind - Standard Form of Contract
Let‘s do it together
Let‘s do it today
Tomorrow could be too late !
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Peter C Hunter BWEA Offshore Wind Conference – March 2003
Approaches to Offshore Contracting