Financial challenges and risks of industry contracts
Financial elements of TEFCEL constitutes any and all elements related to the financial issues including but not limited to the (1) Financing issues, e.g. financial arrangements; project financing; structured financing, corporate financing; JV venturing, etc. (2) financial issues of the contracts e.g. project books and accounts; financial procedures; accounting and auditing procedures; costs classification and recovery; method of payment; and financial progress
Amongst the Financial services provided particularly in the oil and gas industry: Contract Price, Price Revision and Price Escalation, Costs Recovery, Methods of Invoicing and Payment, Project Account, Financial Settlement, CBS, Accounting and Auditing, Financial Progress Report, Accounting Procedure, Lawful Levies, Fees and Charges, Guarantees (Performance Guarantee/Good Performance Guarantee, Liquidated damages, Financial Risks (insufficient funding, Risk of Diversity of Interests, Risk of Market Conditions.