Standardization of legal contracts, spearheaded by LOGIC in partnership with industry, should improve the efficiency of drafting, executing and negotiating commercial agreements, the association said.
Graham Elgie, managing director of LOGIC, said: “This model contract developed by Oil & Gas UK’s Legal Issues Forum provides companies and their contractors with a framework for working towards commercial agreements in a timely, co-operative and effective manner…
“Parties using this new model contract can reduce bidding costs, eliminate duplication of effort and streamline business processes...”
