ABSTRACT
Commencement date, effective date, and zero date of the Contract/Project are defined. Owner tries to fix the effective date as early as possible but Contractor needs to ensure that the following activities are completed: (1) the JV formation among the JV members is legally established along with registered entity, (2) FEED modification if any and its impacts on cost and time is investigated and agreed upon, (3) a document on general terms and conditions related to Vendor’s purchase order and Subcontractor’s Subcontract agreement is drafted, and (4) prerequisites for work Visa issuance are understood from Visa issuing authority and impediments thereof removed.
