Open VORs versus LD Settlement

Client: Large International Contractor

Project Owner: International EPC

End customer: National Oil Company

Contract size: CAD 45 Million

Project details: Onshore production project (oil sands)

Dispute: Open VORs versus applicable Liquidated Damages

 

Topics: Engineering changes from EPC resulting in cost and time overrun. EPC disputed any impact while at the same time applying LDs.

Main target: Prepare claim to get approval of open VORs while ate the same time defend against the application of LDs.

Outcome: Analyzing VORs with regards to cost and time impact helped avoid LDs and settle open VORs for CAD 4.9 Million.

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