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The PSC program is managed by the USCG and United States Navy through an integrated program office. On 23 April 2019, Halter Marine Inc was awarded the contract for the detail design and construction of the lead PSC. [5] The contract option for the second PSC was exercised on 30 December 2021. [4]
A cost plus contract states that a client agrees to reimburse a construction company for building expenses such as labor, materials, and other costs, plus additional payment usually stated as a percentage of the contract's full price. This type of construction contract is an alternative to lump sum agreements.
The New Engineering Contract (NEC), or NEC Engineering and Construction Contract, is a formalised system created by the UK Institution of Civil Engineers that guides the drafting of documents on civil engineering, construction and maintenance projects for the purpose of obtaining tenders, awarding and administering contracts.
The contract also involved technology transfer to PSC-ND from German side as well as to specified a local content of not less than 30 percent, and an offset program of not less than 30% of the contract value. The German Naval Group is also to make a counter purchase obligation amounting to 11% of the contract value.
A contract was signed on 13 October 1998 for an initial six units, with the GNG as the major sub-contractor. A member of the GNG, the Hamburg-based Blohm + Voss was to build the first two ships, while PSC-ND was to complete the final fitting out and trials. The remaining ships were to be built at the PSC-Naval Dockyard from ship modules ...
President-elect Donald Trump over the weekend suggested the US should retake the Panama Canal, an idea that was immediately rejected by the government of Panama, which has controlled the passage ...
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