Common use of SUBSTITUTION OF PARTS Clause in Contracts

SUBSTITUTION OF PARTS. 3.1 If (notwithstanding all reasonable efforts on the part of the Builder and provided that orders for the same were placed in good time by the Builder) any Parts are not available at the time required for their installation or incorporation in the Ship, the Builder may (with the prior written approval of the Buyer) use suitable substitute Parts which are at least equal to the standard and quality of the Parts which were not available and which are capable of meeting all of the requirements of: (i) this Contract, the Plans and the Specification; and (ii) the Classification Society and the Regulatory Authorities. 3.2 Where a proposed substitution of Parts is approved by the Buyer, the Builder shall: (i) bear all additional costs and expenses whatsoever in relation to such substitution; and (ii) credit the Buyer with any cost savings occasioned by such substitution.

SUBSTITUTION OF PARTS. 3.1 If (notwithstanding all reasonable efforts on the part of the Builder and provided that orders for the same were placed in good time by the Builder) any Parts are not available at the time required for their installation or incorporation in the Ship, the Builder may (with the prior written approval of the Buyer) use suitable substitute Parts which are at least equal to the standard and quality of the Parts which were not available and which are capable of meeting all of the requirements of: (i) this Contract, the Plans and the Specification; and (ii) the Classification Society and the Regulatory Authorities. 3.2 Where a proposed substitution of Parts is approved by the Buyer, the Builder shall: (i) bear all additional costs and expenses whatsoever in relation to such substitution; and (ii) credit the Buyer with any cost savings occasioned by such substitution.. (END OF ARTICLE 3) FIRST ORIGINAL

SUBSTITUTION OF PARTS. 3.1 If (notwithstanding all reasonable efforts on the part of the Builder and provided that orders for the same were placed in good time by the Builder) any Parts are not available at the time required for their installation or incorporation in the Ship, the Builder may (with the prior written approval of the Buyer) use suitable substitute Parts which are at least equal to the standard and quality of the Parts which were not available and which are capable of meeting all of the requirements of: (i) this Contract, the Plans and the Specification; and (ii) the Classification Society and the Regulatory Authorities. 3.2 Where a proposed substitution of Parts is approved by the Buyer, the Builder shall: (i) bear all additional costs and expenses whatsoever in relation to such substitution; and (ii) credit the Buyer with any cost savings occasioned by such substitution.. (end of article 3) FIRST ORIGINAL