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Offshore Contracts


Avoiding any complexities with offshore contracts, which usually arise from loss of life, injuries, and property damage, the parties agree to accept losses to their property and own personnel, regardless of the blame. An example may be given with the Piper Alpha disaster where claims were made against 24 different contractors and many more subcontractors. Therefore, to avoid such complication, parties agree to accept their property losses under the knock-for-knock regime.
Offshore Contracts Knock for Knock Clauses


 
Since the knock-for-knock regime is aiming to provide a practical scheme, the claims are not usually included within. Claims and dispute resolution needs to be dealt with the usual way and discover the root cause for the same. Nevertheless, there is no one size fits all, and each prospect needs to be looked at individually. In some agreements, there are specifically excluded claims, where the agreement usually specify claims excluded from the knock-for-knock scheme. In this case, these claims are to be managed with the usual fault-based legal regime
Offshore Contracts Knock for Knock Clauses


 


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