Procedures

Planning

  1. Establishment of Basic Strategy of Acquisition Program (Determination of offset program launch, etc.)
  2. Notification of Programs with Offset Obligation (IPT → Offset Div.)
  3. Draw-out / Review of Offset Requirements
  4. Establish offset requirements (Determining priority / evaluation class)
  5. Confirmation of Offset Request for Proposal

Negotiation

  1. Releasing RFP (IPT or Offset Div.)
  2. Receipt and Review of Offset Proposal
  3. Offset Valuation
  4. Offset Negotiation / Support
  5. Signing Offset MOU (Foreign contractor ↔ Korean Industry Participants (”KIPs”))
  6. Signing Offset MOA (Offset Div. ↔ Foreign contractor)

Work process for foreign companies’ participation in a new offset program

Implementation Management

  1. Establishment of Performance Bond and Signing TAA
  2. (when change of agreed content requested) Negotiation / Review / Approval
  3. Completion of Implementation / Performance analysis