_______, referred to as OWNER, and _________, referred to as
CONTRACTOR, agree:
OWNER herewith hires CONTRACTOR to construct a vessel in accordance with plans and specifications referred to herein.
The vessel shall be constructed in a first class fashion, using highest-grade materials, in accordance with the plans and specifications of ____________. Said plans and specifications are attached hereto as Exhibit 1. CONTRACTOR warrants that it has had sufficient time to fully and completely review the plans and specifications.
In the event that CONTRACTOR reasonably requires any additional marine engineering or marine architecture services such services shall be provided upon request by CONTRACTOR to OWNER, at the OWNER’s expense.
CONTRACTOR shall receive a fixed price for the construction of the vessel totaling
Rs._ (_____________________________ & /100 rupees). Said sum shall be paid as follows: First instalment- ___% of the fixed price, due within ten days of the execution of this
agreement;
Second instalment- __% of the fixed price, due at the earliest of:
(a) the laying of the keel;
(b) the beginning of hull assembly….
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