Builder definition
Examples of Builder in a sentence
In this Guarantee, the following terms have the following meanings: ‘Award Interest’ means any interest which may be awarded against the Builder in connection with the final determination of any dispute notified to us in accordance with paragraph 6 below.
The Builder shall provide the Buyer with an Inventory of Hazardous Materials (“IHM”) and an IHM Certificate in accordance with Regulation (EU) No. 1257/2013 of the European Parliament and of the Council of 20 November 2013 on Ship Recycling and the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships.
If the sanctions, prohibitions or restrictions were introduced before the date of Contract, the Builder shall not be entitled to any adjustments to the Contract Price or the Delivery Date.
Unless the Buyer at its sole discretion decides to waive compliance with the sanctions, prohibitions or restrictions, the Builder shall shift to other materials, equipment, suppliers or sub-contractors and incorporate such modifications and/or changes into the construction of the Vessel to the extent this is necessary to comply with the sanctions, prohibitions or restrictions.
Reports may be provided in the same format used by Builder to report such statistics in accordance with its own existing reporting requirements.