The offset program is mainly concerned with investment opportunities and projects to be implemented by foreign companies that are awarded government tender contracts, whether for civil purpose or military purpose. This is intended to encourage foreign investors to enter into partnerships with local Kuwaiti private companies. Foreign suppliers can use the offset program in order to support their businesses in Kuwait and to support their efforts in establishing alliances and partnerships with local investors. The offset program requires its obligors (though presenting studies or by offering joint cooperation or by authority of the offset authority) to provide technology transfer, research and development, or any other activity stated in the guideline issued by the National Offset Company of Kuwait; the authority appointed by the Government and the Ministry of Finance to manage the offset program and issue all unified contract forms. TLF assist clients, local and foreign, on issues related to offset program. TLF works on establishing viable business ventures between foreign offset obligors & Kuwaiti investors to achieve the goals of the offset program. TLF assists clients on: � - Illustrating on Offset Program Guidelines
- Ministerial decisions regarding Offset Program
- Foreign companies commitment by implementing large government contracts.
- Offset Contracts terms and conditions
- Direct / Indirect Offset Projects
- Memorandum of Understanding
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See related practice areas:
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