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The Initial Contract Price is the Contract Price listed in the Procuring Entity's Letter of Acceptance.
The "prime contractor" is the one responsible to the client for all of the goods and services in the contract; a "sub-contractor" can be hired by the prime contractor for nearly anything the prime doesn't want to do or can't do in adequate volume or quality or time, as required by the contract. Some clients, such as the U.S. government, may restrict the types of companies or deliverables that can be "subbed out". For example, there is often a "buy American" clause that provides an advantage for a company owned by Americans, especially if it is also located in America. In other cases, any foreign involvement could be strictly prohibited, such as work on weapons systems and the like. There may also be cases in which the prime contractor must disclose the list of subs as part of the initial proposal, so the client can decide how much risk it is willing to take.
An equity roll forward allows an investor to maintain the investment position of a contract beyond its initial expiration. This occurs shortly after the initial contract ends.
An equity roll forward allows an investor to maintain the investment position of a contract beyond its initial expiration. This occurs shortly after the initial contract ends.
ResponsibilitiesI am a drilling contractor and am working on this field for many years .I am owning a Sydney based drilling and boring company named AV Drilling . So i can explain you from my own experience. It is the responsibility of the Drilling Contractor to drill the well to the correct program specifications and to provide a well bore that is 'fit for purpose', subject to the terms of the contract. The Drilling Contractor shall not compromise safety or well integrity in order to reach the drilling objectives. A drilling Contractor develops, plans, costs and supervises the operations necessary for drilling oil and gas wells. They are involved from the initial well design to testing, completion and abandonment.Drilling Contractor work with other professionals, such as geologists and scientists.
$10,000
Two
Ideally, contract management should be involved from the initial stages. They can be important in clarifying deliverables and the methods of measurement and acceptance.
I believe your question is on the format of a Production Sharing Contract (PSC) for oil and gas ventures. There really is not a set format, but there are critical elements in the contract, that characterize it as a PSC. In the attached linkes, I have identified an excellent reference book, which you may find in a University library or order online. Also, I have included one "model" PSC for East Timor. Exploration for oil or gas is a risky business. It requires extensive investments in drilling and facility construction prior to first production. An exploratory well may not find any commercial quantities of oil or gas. The contract identifies all the conditions by which oil companies (Contractor or Contractor group) can explore for oil in a limited area (block). The PSC may obligate the Contractor to run seismic or drill a certain number of exploratory wells. The Contractor may have to pay to the contracting party (typically the national oil company or their Energy Department) a signature bonus prior to any exploration. A key component of the PSC is the oil produced from a field is split, in that part of the production belongs to the government (typically the NOC) and part belongs to the Contractor. So, I don't like to call this a Production Sharing Contract, but a Production Splitting Contract. When the Contractor has invested heavily, initially they receive a higher portion of the oil to help repay their expenses. The oil split (called Cost Oil) that the Contractor can receive is generally in proportion to investments made. The key concept is that the PSC permits a more rapid repayment of investments through an initial split favorable to the Contractor, but after payout, more oil revenues will go to the government. The oil that is does not go to Cost Oil is called Profit Oil. A high government tax may be levied on Profit Oil. A PSC may be in effect for more than 20 years. In an exploration venture, the life of the contract may be only a couple of years if no oil or gas is found, but it may last 30 years or more, if there is a discovery leading to commercial development. For this reason, the contracts must include all conditions governing exploration, development and restoration and abandonment (decommissioning of platforms) of the leased area.
You need to look for contractors that will give you an initial visit and written estimate for free. You also need to be sure to find out which brands of HVAC equipment each contractor uses.
4 to 6 weeks after you initial contract is up
we recently signed a agreement with contractor to build in ground spa and gave contractor a initial deposit of $10000.00 in November 20 2012 and requested projected to be completed by January 5, 0r 6 2013. the first step was that contractor would pull permits for work but the contractor supply the city the proper paperwork which started first delay, so permits were delayed until after Christmas and the initial digging begin. from this point forward contractor has been delaying project because poor workmanship in achieving inspections from our city, due to leaks water piping supply lines. what are your recommendations to get project completed.