Common use of Buyer Furnished Equipment Clause in Contracts

Buyer Furnished Equipment. The Contract Price for the Vessel is exclusive of the costs of equipment specified in the Specifications as the “Buyer-furnished Equipment” (and hereinafter so referred to), which shall be supplied and delivered by the Buyer to the Builder, at the Shipyard and at the Buyer’s cost and expense. The Builder shall undertake to install the agreed Buyer-furnished Equipment without extra cost to the Buyer, provided that they are delivered by the Buyer to the Builder in sufficient time to permit installation without delaying construction of the Vessel. Delivery of the Buyer-furnished Equipment shall be in accordance with a reasonable time schedule, designated by the Builder and made available to the Builder prior to the start of any impacted construction activity for the Vessel. Should any or all of the Buyer-furnished Equipment arrive late and should the Builder and Buyer mutually agree to have Builder install those Buyer-furnished Equipment so delayed, any change in construction time directly resulting from such late arrival shall accordingly extend the Delivery Date. Furthermore, if the delay in the Buyer-furnished Equipment should exceed thirty (30) days, the Builder shall be entitled to proceed with the construction of the Vessel, either without installation of such Buyer-furnished Equipment in or onto the Vessel, or using equipment (of comparable performance and quality to what the Buyer would have supplied) supplied by the Builder, without prejudice to the Builder’s right to extend the Delivery Date and to compensation for losses and damages as hereinabove provided, and the Buyer shall not be entitled to reject the Vessel for failure to install Buyer-furnished Equipment. All the Buyer-furnished Equipment shall be subject to the Builder’s reasonable right of rejection in the event the same are found to be unsuitable or not in proper condition for installation. The Builder shall not be responsible for the quality or capacity of the Buyer-furnished Equipment and shall not be liable for any defect in the Buyer-furnished Equipment; however, the Builder shall receive and upon receipt safely store and insure, against loss or damage, all the said Buyer-furnished Equipment. Any technical assistance, information and/or royalties required for the installation of the Buyer-furnished Equipment shall be the responsibility of the Buyer. Both Parties clearly understand that the provisions of this Article XII shall not apply to machinery or equipment other than those specified in the Specifications as the Buyer-furnished Equipment.

Buyer Furnished Equipment. The Contract Price for the Vessel is exclusive of the costs of equipment specified in the Specifications as the “Buyer-furnished Equipment” (and hereinafter so referred to), which shall be supplied and delivered by the Buyer to the Builder, at the Shipyard and at the Buyer’s cost and expense. The Builder shall undertake to install the agreed Buyer-furnished Equipment without extra cost to the Buyer, provided that they are delivered by the Buyer to the Builder in sufficient time to permit installation without delaying construction of the Vessel. Delivery of the Buyer-furnished Equipment shall be in accordance with a reasonable time schedule, designated by the Builder and made available to the Builder prior to the start of any impacted construction activity for the Vessel. Should any or all of the Buyer-furnished Equipment arrive late and should the Builder and Buyer mutually agree to have Builder install those Buyer-furnished Equipment so delayed, any change in construction time directly resulting from such late arrival shall accordingly extend the Delivery Date. Furthermore, if the delay in the Buyer-furnished Equipment should exceed thirty (30) days, the Builder shall be entitled to proceed with the construction of the Vessel, either without installation of such Buyer-furnished Equipment in or onto the Vessel, or using equipment (of comparable performance and quality to what the Buyer would have supplied) supplied by the Builder, without prejudice to the Builder’s right to extend the Delivery Date and to compensation for losses and damages as hereinabove provided, and the Buyer shall not be entitled to reject the Vessel for failure to install Buyer-furnished Equipment. All the Buyer-furnished Equipment shall be subject to the Builder’s reasonable right of rejection in the event the same are found to be unsuitable or not in proper condition for installation. The Builder shall not be responsible for the quality or capacity of the Buyer-furnished Equipment and shall not be liable for any defect in the Buyer-furnished Equipment; however, the Builder shall receive and upon receipt safely store and insure, against loss or damage, all the said Buyer-furnished Equipment. Any technical assistance, information and/or royalties required for the installation of the Buyer-furnished Equipment shall be the responsibility of the Buyer. Both Parties clearly understand that the provisions of this Article XII shall not 38 of 74 apply to machinery or equipment other than those specified in the Specifications as the Buyer-furnished Equipment.

Buyer Furnished Equipment. The Contract Price for the Vessel is exclusive of the costs of equipment specified in the Specifications as the “Buyer-furnished Equipment” (and hereinafter so referred to), which shall be supplied and delivered by the Buyer to the Builder, at the Shipyard and at the Buyer’s cost and expense. The Builder shall undertake to install the agreed Buyer-furnished Equipment without extra cost to the Buyer, provided that they are delivered by the Buyer to the Builder in sufficient time to permit installation without delaying construction of the Vessel. Delivery of the Buyer-furnished Equipment shall be in accordance with a reasonable time schedule, designated by the Builder and made available to the Builder prior to the start of any impacted construction activity for the Vessel. Should any or all of the Buyer-furnished Equipment arrive late and should the Builder and Buyer mutually agree to have Builder install those Buyer-furnished Equipment so delayed, any change in construction time directly resulting from such late arrival shall accordingly extend the Delivery Date. Furthermore, if the delay in the Buyer-furnished Equipment should exceed thirty (30) days, the Builder shall be entitled to proceed with the construction of the Vessel, either without installation of such Buyer-furnished Equipment in or onto the Vessel, or using equipment (of comparable performance and quality to what the Buyer would have supplied) supplied by the Builder, without prejudice to the Builder’s right to extend the Delivery Date and to compensation for losses and damages as hereinabove provided, and the Buyer shall not be entitled to reject the Vessel for failure to install Buyer-furnished Equipment. All the Buyer-furnished Equipment shall be subject to the Builder’s reasonable right of rejection in the event the same are found to be unsuitable or not in proper condition for installation. The Builder shall not be responsible for the quality or capacity of the Buyer-furnished Equipment and shall not be liable for any defect in the Buyer-furnished Equipment; however, the Builder shall receive and upon receipt safely store and insure, against loss or damage, all the said Buyer-furnished Equipment. Any technical assistance, information and/or royalties required for the installation of the Buyer-furnished Equipment shall be the responsibility of the Buyer. Both Parties clearly understand that the provisions of this Article XII shall not 38 of 75 apply to machinery or equipment other than those specified in the Specifications as the Buyer-furnished Equipment.