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The International Marine Contractors Association (IMCA) has published a standard contract for transport and installation (T&I) works in offshore wind projects. The contract has been written to ensure a fairer allocation of risk.
 
Building on the release of IMCA’s Contracting Principles in January 2023, its publication comes on the heels of an IMCA-led campaign for an industry-wide discussion on sustainable contracting in offshore wind. IMCA’s standard T&I contract follows the ‘FAIR’ contracting principles, developed by IMCA’s Legal, Contracts, Insurance & Compliance (LCIC) Committee, which encourage an equitable allocation of risk. These propose that contracts should be:
 
  • Fair – with a realistic allocation of risk in proportion to relative rewards.
  • Appropriate – with a distribution of risk to the best placed party.
  • Insured – have sufficient scope of cover.
  • Reasonable – avoid duplicate risk assumptions and minimise the potential for disputes.
 
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