"Take a thin profit," he said, "and never accept an escalation clause in a shipbuilding contract."

Within the shipbuilding contract, the risk does not pass from builder to buyer until delivery of the completed ship.

Each shipbuilding contract is tailor made where there are different requirement from each buyer.

There was much controversy following the decision to award the shipbuilding contracts to yards outside Scotland.

Whether the reference to an expert takes place may be subject to the agreement of the parties to the shipbuilding contract.

In practice, experts are rarely appointed to determine issues under shipbuilding contracts, because of the role played by Classification Societies.

The contract, worth $1.6 billion, was the world's biggest single shipbuilding contract by deadweight tonnage.

The shipbuilding contract, worth US$483 million, was signed in July 2009.

All shipbuilding contracts were signed during the war.

Nearly $1 billion in shipbuilding contracts was announced.