#yachtnew

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6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - X

Phil Friedman · NEVER OVERLOOK THE IMPORTANCE OF A DETAILED GENERAL SPECIFICATION · Few, if any large-yacht building projects begin with fully developed engineering. Preliminary engineering, perhaps, but not fully developed. This is because few, if any buyers or owners are willing to wait lon ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - VIII

Phil Friedman · DETAILED DEFINITION OF PAYMENT MILESTONES ESSENTIAL... · Most contracts for large-yacht builds and major refits include a schedule of “progress” payments. These are based on the achievement of designated milestones during the the project. Unfortunately, in the vast majority o ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - VII

Phil Friedman · FAILING TO DETAIL HOW EMERGENT WORK AND CHANGE ORDERS ARE TO BE HANDLED IS A STANDING INVITATION TO RENEGOTIATE TERMS MID-PROJECT… · As noted last installment, if a yacht new-build or major refit contract doesn’t detail how emergent work and change orders will be handled and pric ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - VI

Phil Friedman · TO IGNORE EMERGENT WORK AND CHANGE ORDERS IS TO LEAVE A HOLE IN A YACHT BUILD CONTRACT BIG ENOUGH TO DRIVE A SUPERYACHT THROUGH… · So you think you have a contract pretty well defined. You’ve defined the scope of work. You’ve agreed upon and set the project schedule. You’ve det ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - V

Phil Friedman · THE DIFFERENCE BETWEEN AN “ESTIMATE” AND A “QUOTATION” MAKES A REALLY BIG DIFFERENCE CONTRACTUALLY… · It may seem to be only a small variance in nomenclature, but the difference between an “estimate” and a “quotation” makes all the difference in the world when it comes to a new b ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - IV

Phil Friedman · IN YACHT PROJECT MANAGEMENT, NOTHING SUBSTITUTES FOR AN INTIMATE KNOWLEDGE OF BOAT BUILDING OPERATIONS AND PROCESSES… · You run across a lot of jive talk about yacht build project planning and scheduling. Indeed, it seems that just about everyone in the marine industry with a c ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - III

Phil Friedman · NEW-BUILD AND MAJOR REFIT CONTRACTS CAN BE LEGALLY BULLET-PROOF, YET STILL FAIL TO RESULT IN SUCCESSFUL PROJECT COMPLETION… · The “SOW” is the foundation upon which all other aspects of a new build or refit contract are built... · The “scope of work” defines what work and materia ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - II

Phil Friedman · NEW-BUILD AND MAJOR REFIT CONTRACTS CAN BE LEGALLY BULLET-PROOF, YET STILL FAIL TO RESULT IN SUCCESSFUL PROJECT COMPLETION… · And several critical, non-legal issues should be considered with an eye to improving such contracts and better protecting the interests of the buyer or ...

6 years ago

Non-Legal Fine Points of Yacht New-Build and Refit Contracts - I

Phil Friedman · NEW-BUILD AND MAJOR REFIT CONTRACTS CAN BE LEGALLY BULLET PROOF, 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 s ...

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