Common use of Monthly Progress Reports Clause in Contracts

Monthly Progress Reports. (a) The Builder shall provide to the Buyer’s Representative detailed monthly progress reports (“Progress Reports”) showing the progress made with equipment procurement and the design and construction of the Vessel. Each Progress Report shall also clearly describe any slippage in progress; any event(s) that may cause delay (whether alleged to be Permissible Delays or otherwise) in the punctual delivery of the Vessel; the estimated period(s) of delay attributable to such event(s); the Builder’s proposals on avoiding and/or mitigating the effects of such event(s) on the punctual delivery of the Vessel. The Buyer may send copies of the Progress Reports to the Charterer. The Buyer may request that the Progress Reports are expanded to include more information than stated above if the Buyer considers this relevant, for example, if this is requested by the Charterer.