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

- Defining Scope of Work (SOW)

- Setting project schedules- Estimates vs. quotes

- Time & Materials vs. fixed-price

- Comparing quoted pricing

- Dealing with emergent work and change orders

- Milestones and progress payments

- Surveys, classification, and industry standards

- Engineering and specifications

- Inspections and final acceptance

Author's Notes:  I am not a lawyer, and nothing in this series is offered as legal advice. The information, opinions, tips and comments will be based on my 30 some years in the yachting industry, including my several year stint as president and CEO of a major, world-class megayacht builder.

If you find yachts and yacht building of interest, you may want to read some of my other marine industry related articles:

"Sizing Generators to Run Greener and Cleaner"

"Ten Insider Tips on Yacht Build Contracts"

"App or Not, Garbage In Means Garbage Out"

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f you are interested in yachts, are allied with the yacht building industry,  or operating a small business in another sector, you should consider joining my beBee Hive, 

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where you will find experienced industry professionals discussing a wide range of topics. The ongoing conversation is always interesting, informative, and 100% industry insider.

About me, Phil Friedman:  With 30 some years background in the marine industry, I've worn numerous hats — as a yacht designer, boat builder, marine operations and business manager, marine industry consultant, marine marketing and communications specialist, yachting magazine writer and editor, yacht surveyor, and marine industry educator. I am also trained and experienced in interest-based negotiation and mediation. In a previous life, I taught logic and philosophy at university.

Text Copyright © 2016 by Phil Friedman — All Rights Reserved
Images:  Courtesy of Port Royal Group LLC and Phil Friedman