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CONTRACT SYNOPSIS

HANDOVER FOR CONTRACT


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Form 16-01 Handover for Contract


August 2004

Page 1 of 12

CONTRACT SYNOPSIS

INSTRUCTIONS FOR COMPLETION


This form is designed to force the consideration of all relevant questions relating
to the handover and future execution of newly awarded contracts.

The purpose of a formally documented handover is to ensure that the Execution


Team receive all information required to successfully execute the contract as
agreed with the client, and that strategies and tactics for achieving additional
pull-through business are understood.

It is the responsibility of the Proposal Manager and Sales Lead to hand over all
proposal data and the contract to the Project Manager (ideally the Proposal
Manager and the Project Manager are the same person, especially for large
pursuits). The Project Manager is then responsible for ensuring that their Project
Team and Support Services execute according to the agreed upon contract and
also to ensure that the data is gathered from all appropriate sources and that
these sources commit to accountability for the accuracy and completeness of this
information.

The information provided must be sufficient to ensure that all personnel


understand the nature and scope of the contract, its risks, compensation model
and reward mechanisms.

Form 16-01 Handover for Contract


August 2004

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CONTRACT SYNOPSIS

This handover should be accomplished in one or more formal handover


meetings.
ACCOMPANYING DOCUMENTATION
Where possible full copies of the executed contract document should be provided
to the project team together with this synopsis and all rate breakdowns, during
the handover meeting, however, it is recognized that signed contracts are not
always available prior to commencement of work.

In such instances the project team should be provided with copies of the Letter
of Intent and the draft contract document. Elements of the contract which are still
under negotiation must be highlighted.

It remains the responsibility of the Proposal Manager and Sales Lead to formally
handover the signed contract document on completion of all post tender
negotiations.

HANDOVER MEETING
The Contract Handover Meeting will be chaired by the Proposal Manager and
Sales Lead. The duration of the meeting will depend on factors such as:

Scale of award

Contract complexity

Special customer requirements

Opportunities for contract growth

Form 16-01 Handover for Contract


August 2004

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CONTRACT SYNOPSIS

Attendees will be jointly agreed between the Proposal Manager, Sales Lead and
the Project Manager and will always include functional support services
representatives where appropriate, i.e. Engineering, O&M, Finance, Project
Controls, Contracts, Estimating, Proposals, HR, P&M, HSEQ and Payroll.

All items of the Contract Handover Form will be considered during the meeting
with those deemed inapplicable, identified as so.

All Handover Meetings will include details of those items removed from the bid
during the clarification/negotiation phase to ensure that these are not revisited
needlessly during project execution.

Form 16-01 Handover for Contract


August 2004

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CONTRACT SYNOPSIS

1.

HANDOVER CO-ORDINATOR

Prepared by

2.

Position

GENERAL CONTRACT INFORMATION

Client
Contract Title
Contract Number
Contracting Entity
Annual Revenue
Project Location
Start Date
Duration
End Date
Options

3.

PROJECT SUMMARY

Total Project Scope


Project Operating Environment
(e.g. Installations, supply boat
frequency, Rotation, etc.)

Form 16-01 Handover for Contract


August 2004

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Rev No. / Date

CONTRACT SYNOPSIS

Contract Description
(e.g. Engineering, ISC, O&M)

Opportunities for time/cost


savings
Subcontracts / Alliances / JVs
formed / required for contract
execution
Specific Subcontract / Alliance /
JV exceptions
Project Execution Schedule
(e.g. key milestones and dates)

Short term deliverables


(e.g. 90 day lookahead)
Routine reporting requirements

4.

CUSTOMER PROFILE

Brief contractual history with


KBR
Current key relationships &
sensitivities
Current value of work awarded
to KBR
Overview of customer
organization
Form 16-01 Handover for Contract
August 2004

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CONTRACT SYNOPSIS

Customer Drivers
Win Strategy
(e.g. Customer likes / dislikes in
bid)

5.

SAP PROFILE
The designated Project Accountant will have full responsibility for
managing the set-up of the Project in SAP.
This will be strictly in accordance with the Checklist Template attached to
this form and will be signed off as indicated to verify accuracy and
accountability.
The Project Accountant will issue e-mail confirmation to the Project Team
confirming completion of the SAP set-up exercise prior to project
commencement.

6.

COMMERCIAL SUMMARY

Prime Contract Exposures


Methods of Mitigating Exposures
Currency Impacts
Client Specified Suppliers
Neutral / Positive Cash Flow
Strategy
Tax Implications
Local Content Requirement
Compensation Model
Reward Mechanism
Form 16-01 Handover for Contract
August 2004

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CONTRACT SYNOPSIS

Rate Review Date


Forecast Revenue p.a.
Forecast Margin
Contingencies or other
provisions
(for lump sum contracts only)
Invoicing Terms & Currency
Payment Terms
Opportunities for increased
return
Subcon. / AP / JV
reimbursement

7.

CONTRACTUAL SUMMARY Overview of Ts & Cs

Governing Law
Indemnity Regime
Limitation of Liability
Insurance Requirements
Liquidated Damages
Warranty Period
Audit Period
Performance Guarantee
(amount and validity)
Parent Company Guarantee
Form 16-01 Handover for Contract
August 2004

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CONTRACT SYNOPSIS

Other points worth noting


8.

EXECUTION TEAM

Key KBR personnel


Mobilization Plan
Key corresponding Customer
personnel

9.

HSE REQUIREMENTS

Customer HSE Drivers /


Requirements
Project HSE Strategy
Major targets agreed

10.

QBE REQUIREMENTS

Customer QBE Requirements


Project QBE Strategy
Major Targets Agreed

Form 16-01 Handover for Contract


August 2004

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CONTRACT SYNOPSIS

11.

DOCUMENTATION INFORMATION

List of documents handed over


Customer correspondence &
documentation requirements
Distribution list for final contract
document

Original

Legal

Copy 1

Assignment Manager

Copy 2

Contracts

Copy 3

Finance

Copy 4
Copy 5

12.

ANY OTHER RELEVANT INFORMATION

Form 16-01 Handover for Contract


August 2004

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CONTRACT SYNOPSIS

13.

HANDOVER COMPLETION

Proposal Manager:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

Sales Lead:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

Manager of Proposals:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

Project Manager:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

Contracts Rep.:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

Form 16-01 Handover for Contract


August 2004

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CONTRACT SYNOPSIS

Project Controls Rep.:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

HR Rep.:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

P&M Rep.:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

HSEQ Rep.:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

Finance Rep.:

_____________________________________

Signature:

_____________________________________

Date:

_____________________________________

Form 16-01 Handover for Contract


August 2004

Page 12 of 12