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A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
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A senior mud engineer typically works in the day, and a junior mud engineer at night. The cost of the drilling fluid is typically about 10% (may vary greatly) of the total cost of drilling a well, and demands competent mud engineers. Large cost savings result when the mud engineer and fluid performs adequately.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors .
A cost-plus contract, also termed a cost plus contract, is a contract such that a contractor is paid for all of its allowed expenses, plus additional payment to allow for risk and incentive sharing. [1] Cost-reimbursement contracts contrast with fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred ...
The NEC contracts now form a suite of contracts, with NEC being the brand name for the "family" of contracts. [16] When it was first launched in 1993, it was simply the "New Engineering Contract". This specific contract has been renamed the "Engineering and Construction Contract" which is the main contract used for any construction based project.
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Mud is a vital part of drilling operations. It provides hydrostatic pressure on the borehole wall to prevent uncontrolled production of reservoir fluids, lubricates and cools the drill bit, carries the drill cuttings up to the surface, forms a "filter-cake" on the borehole wall to prevent drilling fluid invasion, provides an information medium for well logging, and helps the drilling by ...