Common use of Substitution of Materials Clause in Contracts

Substitution of Materials. In the event that any of the materials required by the Specifications or otherwise under this Contract for the construction of the Vessel cannot be procured in time to effect delivery of the Vessel, or are in short supply though such materials are timely ordered, the Builder may, provided the Buyer so agrees in writing, supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the Vessel must comply. Any agreement as to such substitution of materials shall be effected in the manner provided in Paragraph (a) of this Article and shall not, likewise, include a decrease or increase in the Contract Price and other terms and conditions of this Contract affected by such substitution. Furthermore, it is expressly agreed that should the Builder have to use any steel made in China they will only use steel produced by major Chinese steel xxxxx used by major Korean shipyards. No Brazilian steel will be used for any of the integral parts of the Vessel without the Buyer’s prior approval in its absolute discretion. All steel to be provided in accordance with Classification standards and approvals.