As discussed in Part Ⅰ of this article in the February issue of Power Engineering, sooner or later, power generation equipment Owners worldwide are likely to come face to face with LTSA agreements in which original equipment manufacturers (OEMs) commit to providing maintenance services for the very equipment that they manufacture. While LTSAs can offer many advantages to Owners, these very complex agreements can often contain pitfalls for the unwary - pitfalls that can cause an Owner to bear an inordinate amount of risk, or may result in costly and time-consuming disputes with the OEM. Part Ⅱ of this article examines the second five of the top ten contractual pitfalls most commonly found in LTSAs, and suggests appropriate means for avoiding them.
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