Protiviti Capital Projects & Contracts Solution Introduction.
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Protiviti Capital Projects & Contracts Solution Introduction
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Table of Contents
Discussion Topics
Protiviti’s Capital Projects and Contracts Practice
Project Experience
Assessing Project Lifecycle Effectiveness
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Typical Capital Project Risk Universe 12
Protiviti Overview 3
Protiviti Solutions Offerings 5
Project Risk Areas 14
Appendix
Solution Leader Biographies 8
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Protiviti Overview
Member firm, SizweNtsalubaGoobodo, with 10 offices in South Africa.
Protiviti (www.protiviti.com) is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit.
Protiviti is a wholly owned subsidiary of Robert Half International Inc. (NYSE symbol: RHI) Protiviti was launched in May 2002, when RHI reached an employment agreement with Arthur Andersen LLP to hire
approximately 700 professionals from the firm’s U.S. practice. Protiviti's highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business
issues for clients in the Americas, Asia-Pacific, Africa, Europe and the Middle East.
• 6th Largest Business Consulting Firm
• 3,000+ professionals
• 1,000+ clients
• 70+ offices in over 20 countries
Protiviti’s clients include more than 35% of Fortune 1000 and Global 500 companies. We also work with smaller, growing companies, including those looking to go public, as well as with government agencies.
Protiviti is one of the fastest growing consulting firms worldwide. Our revenues have increased from US $15 million in 2002, to US $452.7 million in 2012.
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Protiviti OverviewOur market position
We are the only risk consulting practice not affiliated with an external audit firm. This is a strategic advantage because our organization is the only company that brings the resources, quality and capabilities of the large accounting firms without the regulatory concerns or current market distractions.
What makes us different
In addition to our strong position in the market we bring a unique resource model. We draw on process experts who are identical in skills to the divested consulting arms of the Big 4 firms.
Our Parent Company
Protiviti is a wholly owned subsidiary of Robert Half International, Inc. (RHI), a leader in the professional services industry. RHI was founded in 1948 and has spent years creating a reputation for excellence in finding the resources companies need to achieve success. In it’s founding of Protiviti, RHI has dedicated itself to yet another dimension of client service with Protiviti’s project management skills, industry experience and risk consulting depth.
The Protiviti “Difference”
Protiviti is the leading provider of truly independent risk and business consulting, and internal audit services with over 3,000 professionals in 70 offices worldwide. We offer a full spectrum of internal audit, consulting, technology, and corporate governance services.
Our internal audit and risk consulting services trace their origins to the Big Four professional servicesfirms, and many of our team members have Big Four consulting experience. Our internal audit practice originated in 1989 and we have invested millions of dollars in the development of internal auditing methodology, tools and people, which has prepared us to provide a broad spectrum of services across all industries, including the mining industry. We have made the investments, and our clients are the beneficiaries of our cumulative experiences.
We firmly believe that our singular focus on providing internal audit and risk consulting services provides us with a major advantage in terms of focus, commitment, and the proven ability to effectively partner with our clients.
Protiviti also offers our clients the advantage of independence. Our independence means fewer conflicts with all parties involved, now and in the future.
Boutique:• Responsive client service• Lack of SEC restrictions• Independent from attest &
tax services• Better teaming with
external auditors• Focus on core offerings• Fee flexibility
Big 4:• Methodologies & tools• Experienced professionals• Depth of risk consulting
services• Financial & management
stability• Recognized• Global presence
Protiviti combines the strengths of your Big Four and Boutique alternatives . . . .without compromise
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Protiviti Solution OfferingsProtiviti helps companies around the globe identify, measure, and navigate the risks they face within their industries and throughout their systems and processes using the proven value-add solutions summarized below.
• Enterprise Performance Management• Finance Process Optimization• Financial Reporting Remediation & Compliance • IFRS• Financial Controls & Sarbanes Oxley
Compliance• M&A Services • Enterprise Risk Management
Finance & Accounting Excellence
Finance & Accounting Excellence
• Risk Strategy & Management• Compliance
Risk & ComplianceRisk & Compliance Business Performance Improvement
Business Performance Improvement
• Supply Chain• Capital Projects & Contracts• Loss Prevention• Revenue Risk • Enterprise Business Intelligence• AP Recovery Services
• Business Continuity• IT Governance & Risk Management• IT Process Improvement• Security & Privacy Management• Application Controls Effectiveness• Enterprise Information Management• E-Discovery
Information Technology Effectiveness & Control
Information Technology Effectiveness & Control
• Audit Committee Advisory• IT Audit Services• Internal Audit Co-sourcing• Internal Audit Full Outsourcing• Internal Audit Quality Assurance reviews• Internal Audit Technology / Tool implementation• Internal Audit Transformation• Start-up & Development Advice• High Value Auditing• Data Mining & Analytics• Financial Controls & Sarbanes-Oxley
Compliance• J-SOX Compliance
Internal Audit & Financial Controls
Internal Audit & Financial Controls
• Corporate Restructuring & Recovery• Financial Investigations• Fraud Risk Management• Litigation Consulting• M&A Services
Litigation, Restructuring & Investigative Services
Litigation, Restructuring & Investigative Services
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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About Protiviti’s Capital Projects & Contracts Practice
Our Capital Projects & Contracts (CP&C) team of finance, accounting, engineering, procurement, construction, and technology experts help organizations better align business processes, people and technology to maximize capital project performance. Our experienced professionals use proven methodologies to assist companies in identifying, measuring and mitigating the risks inherent in capital project activities. We help companies gain control of their capital projects, processes, and risks.
Our CP&C team brings a diverse blend of project management and construction experience, along with the in-depth knowledge and “hands-on” experience gained through numerous projects, both from a consulting and auditing perspective.
Our approach inserts Protiviti specialists into strategic areas within the project to provide the expertise critical to the team, providing you with leading knowledge for all areas of your business.
Protiviti’s CP&C practice includes leaders with both direct experience (as employees of construction and operating companies) and indirect experience (as management consultants to owners/operators) in multiple industries.
We also have several specialized consultants who have managed capital project programs at leading operating companies as part of their Project Controls Group (PCG) and Program Management Office (PMO).
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Project ExperienceBelow is a summary of recently completed projects:
Business Performance Improvement
Capital Projects Budgeting & Forecasting Assistance
Review project budget and forecast for accuracy and appropriateness of estimates, and effectively communicate capital expenditure forecasts
Project Controls Design and Implementation
Design and Implementation of a Project Controls Group and all inclusive processes to effectively manage multiple capital project simultaneously
Project Management Office (PMO) Design, Implementation and Execution
Design, Implementation, and Execution of a PMO to manage multiple capital projects while assisting clients with key hires and long term solutions to manage ongoing projects
Vendor Audits Review vendor contracts and audit charges to ensure vendor adherence to contact terms and sustainable project funding
Contract Risk Assessments Analyze vendor contracts to identify key clauses and language relating to project risk
Working Capital Optimization & Cost Reduction
Robust analysis of effectiveness of working capital performance (payables, receivables, inventory) and underlying value drivers to identify and implement immediate and sustainable savings
Spend Assessment & Strategic Sourcing
Spend categorization and analysis across all 3rd party spend, supplier/market analysis, sourcing strategy determination, implementation, and savings tracking
Warehousing / Inventory ImprovementIncluding warehouse layout / design, inventory planning and replenishment, inventory reduction, E&O analysis, inventory performance monitoring
Procure-to-Pay Transformation Including Procurement Transactions Management, Contract Lifecycle Management, AP Settlement, P-cards
Procurement Process Improvement Review the purchase requisition invoice and A/P process to improve efficiencies and enhance internal controls
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Randall CoxworthDirector, Los Angeles Office
Professional Experience
Randall is a Director in Protiviti’s Los Angeles office. Prior to joining Protiviti, he spent eight years in a large general contracting firm managing construction projects, environmental services and disaster recovery projects in the Southwest region of the U.S.. He specializes in project risk identification , earned value management and contract control assessments as well as process performance reviews to the construction, healthcare / higher education, multi-tenant housing, commercial property, hospitality, consumer products & retail industries. He has been particularly involved in providing risk consulting and internal audit services within technical areas of organizations including engineering, construction, and environmental risk management.
Randall worked in the commercial insurance claims field as a property adjuster prior to working in the construction industry for ten years. Randall also served in the United States Marine Corps for six years before being honorably discharged as a Sergeant.
Principal Areas of Practice
Randall provides clients with the following range of risk consulting services:
• Capital Projects & Construction (CP&C) Services: Worked with project owners to better manage the risks of feasibility and planning, resource allocation and commitment, contractor selection, contract management, earned value management and commission and turnover. Assisted contractors to better manage strategy and business development, project selection, estimation and bidding, project risk management, procurement selection and materials management, project delivery, & financial control.
• Environmental Services: Assisted clients in defining appropriate strategies to manage their interfaces with environmental regulatory issues and in improving their environmental risk management.
• Disaster Preparedness & Planning Services: Worked with clients to provide disaster preparedness plans to mitigate and execute business interruption contingencies based on geographical needs with appropriate disaster threat assessments.
• Business Interruption Services: Worked with clients to develop advanced business continuity plans in order to minimize financial impact for unexpected events.
• Property Claims Management & Assessment: Managed property and business claims process to ensure proper cost and time efficiencies while mitigating the claim impact.
Contact InformationDirect: +1 213.327.1324Mobile: +1 619.400.7579eFax: +1 213.327.1380Email: randall.coxworth@protiviti.com
Areas of Expertise• Capital Projects & Contracts Services• Contract Management• Contract Cost Recovery Services• Internal Audit Services• Environmental Services• Disaster Preparedness & Planning• Property Claims Management &
Assessment
Industry Expertise• Mining• Industrial Products• Healthcare• Manufacturing & Distribution• Financial Services & Real Estate• Commercial and Multi-Tenant Real Estate
Education• M.B.A., University of Southern California• B.A., Political Science and Philosophy,
Northeastern Illinois University
Professional Memberships& Certifications• Project Management Institute (PMI)• National Association of Construction
Auditors (NACA) - Certified Construction Auditor (CCA)
• Risk and Insurance Management Society (RIMS)
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Cody PutnamAssociate Director, Houston
Professional Experience
Cody is an Associate Director in the Houston office of Protiviti and a member of Protiviti’s Business Performance Improvement Consulting practice. Since joining Protiviti, Cody has helped many upstream and midstream energy companies manage various aspects of common capital project risk primarily in onshore developments, including the Eagle Ford, Marcellus, Haynesville, Fayetteville, Permian and Bossier plays. Cody has experience working with a multitude of Accounting systems in a project accounting capacity, as well as several drilling data management systems, such as Wellcore and WellView.
Cody graduated from Texas A&M University with a degree in Finance and is a Certified Internal Auditor, Certified Construction Auditor, and is Certified in Control Self-Assessment.
Recent Projects
Leading Global Resources Company
Protiviti performed multiple engagements for this leading global resources company to assist with their expansion into several shale plays in the United States, in which the company was spending US$2.5 billion annually. Supporting the Operations and Accounting groups, Cody was the lead Project Manager for these projects, which included overseeing a team helping with forecasting and planning capital spending in the new plays, establishing KPIs and management reports for monitoring project spending, performing project accounting activities as well as data mining and analytics, conducting materials management reviews, auditing vendor contract compliance, and addressing joint venture process issues.
Global Diversified Oil and Gas Production Company
Protiviti was engaged by this company to perform an assessment of its capital expenditure processes for one of its production units as a result of a large capital spending overrun. This company was spending US$1.5 billion in this delivery unit annually and was the Operator in a significant joint venture. Cody was the lead Project Manager for the assessment, which focused primarily on capital management and project control. The results of the assessment identified that the company did not have effective business processes, enabling technology, or trained resources to manage the financial and administrative aspects of developing and maintaining the assets within the unit. Protiviti recommended several organization and process related improvements and Cody was responsible for leading a PMO to help implement several of these for the company.
Contact InformationDirect: +1 713.314.5024Mobile: +1 281.960.2463Email: cody.putnam@protiviti.com
Areas of Expertise• O&G Development / Construction• Forecasting and Planning• Project Accounting / Finance• Contract Management• Procurement / Materials Management• Internal Controls• Enterprise Risk Management• Data Mining / Analytics
Industry Experience• Oil and Gas• Utilities• Manufacturing
Education• BBA – Finance
Texas A&M University• Certified Internal Auditor• Certified Construction Auditor• Certified in Control Self - Assessment• Six Sigma Green Belt (in progress)
Memberships• Institute of Internal Auditors, Member• National Association of Construction
Auditors, Member• American Society for Quality, Member
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Contact Information
Direct: +1 713.314.5031Mobile: +1 713.302.4202Fax: +1 713.314.5351Email: paul.pettit@protiviti.com
Areas of Expertise
•Capital Projects & Contracts Services•Quality, Environmental, Health & Safety Services•Internal Audit Services
Industry Expertise
•Energy•Industrial Products•Healthcare & Life Sciences•Higher Education•Government•Consumer Products & Services•Technology, Media & Communications •Real Estate
Education
•MBA, MS in Env. Management, University of Houston•BS in Civil / Mechanical Engineering Technology, University of Houston
Professional Memberships & Certifications
•Project Management Professional (PMP)•Certified Construction Auditor (CCA)•Certified Internal Auditor (CIA)•Certified in Risk Mgmt. Assurance (CRMA)•Certified Professional EH&S Auditor (CPEA)•Responsible Care Certified Auditor (RCCA)•Board of EH&S Auditor Certification (BEAC)•Institute of Internal Auditors (IIA)•National Assoc. of Construction Auditors (NACA)•Project Management Institute (PMI)
Professional Experience
Paul is a Director in Protiviti’s Houston office. Prior to joining Protiviti in 2002 as a founder, he spent three years in a large public accounting and consulting firm managing and executing risk consulting and internal audit engagements. He specializes in risk identification and control assessments as well as process performance reviews and consulting services to the healthcare, higher education, energy, industrial products, government, consumer products & services, technology, media & communications , and real estate industries. He has been particularly involved in providing risk consulting and internal audit services within technical areas of organizations including engineering, procurement and construction as well as quality, environmental, health and safety risk management. Paul is one of the global leaders for Protiviti’s Capital Projects & Contracts (CP&C) practice and the global leader of Protiviti’s Quality, Environmental, Health and Safety (QEH&S) practice.
Paul also worked for over nine years in the Engineering, Procurement, Construction and Maintenance (EPCM) industry with a leading EPCM contractor. He specialized in providing technical services for areas such as Project Management, Quality Management, Project Engineering, Noise Control Engineering, Process Systems Engineering, Environmental Engineering and Engineering Design. Paul also served on the company’s EH&S Committee as well as the Lessons Learned Action Team. He provided leadership and oversight of the company’s annual EH&S Conference as well as their Home Office Safety Program.
Principal Areas of Practice
Paul provides clients with the following range of audit and consulting services:
Capital Projects & Contracts (CP&C) Services: We help organizations better align business processes, people and technology to maximize contract compliance and enhance cost and schedule control. We use our proven methodology to assist companies in identifying, measuring and mitigating the risks inherent in contract activities. We help companies gain control of their contracts, processes and risks.
Quality, Environmental, Health & Safety (QEH&S) Services: We assess quality, environmental, health & safety risks, evaluate control design and operating effectiveness, and provide definitive options to improve risk mitigation, process efficiency, and company profitability. We provide clients with a comprehensive approach to QEH&S risk management. Our QEH&S Risk Management Process is an integrated approach for carrying out risk management activities to enable senior management to minimize the potential impact of QEH&S risks in achieving company objectives.
Internal Audit (IA) Services: We work with Internal Audit departments to provide the value-added risk management capabilities needed to support their business strategies and continuously improve operational performance, especially in the areas of QEH&S and CP&C services.
Paul D. Pettit Jr.Director, Houston Office
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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AppendixSupplemental Information
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Engineering
Engineering Delays
Over/Under-funded Cash Payment & Cancellation Fee Accounts
Uncontrolled Engineer Designs / Design Changes
Critical Equipment Purchases & Testing Procedures
Failure to Deliver Critical Equipment
Divulgence of Confidential Information
Contract Management
Lack of a Formal Bidding Process
Inconsistent Contract Terms and Conditions
Non-Standard Contracts May Not Adequately Limit Liabilities or Costs
Improper Tracking of Contracts and Contract Change Orders
Untimely and Insufficient Review of Change Orders
Segregation of Duties Conflicts to Procure Equipment and Services
Noncompliance with Contract Performance Requirements
Noncompliance with Contract Reporting Requirements
Project Management
Inconsistent Communication Protocol Between Project Groups
Delegation of Authority Structure
Poor Risk Management
Poor Communication Management
Compliance
Noncompliance to regulations by Owner or Contractors
Resources
Availability of Construction Labor
Availability of Operating Labor
Lack of Adequate Facilities
Compliance with Labor Laws
Specialty Operator Licenses
Productivity of Contractor Labor
Removal of Key Contractor Personnel from Project
Project Accounting
Capitalization of Project Costs
Inaccurate Accruals
Cash Flow Management
Tax Incentives
Tax Compliance
Invoice Review
Travel Expenditures
Procurement
Unauthorized Purchase Orders
Unqualified or Inappropriate Suppliers
Key Supplier and Equipment Due Dates
Shipment Issues / Damage to Equipment
Improper Storage / Logistics Management
Price Volatility of Services and Equipment
Reporting
Contractors Untimely or Inaccurate Reporting
Inaccurate Project Schedule
Inaccurate Project Reporting for Cost and Schedule Impact
Insufficient Detail of Project Data
Inaccurate Initial Cost Estimates
Environment Health & Safety
Inadequate Contractor Insurance
Lack of Site Access Control
Adherence to EH&S Requirements
Impact on Safety of Current Operations
Construction
Permits
Severe Weather
Poor Construction Sequencing
Engineering or Installation Issues
Community Relations Issues
Unforeseen Site Conditions
Typical Capital Project Risk Universe
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Assessing Project Lifecycle Effectiveness
Pre-Feasibility / Feasibility
Pre-Feasibility / Feasibility &
Planning
Resource Allocation & Commitment
Execution
Contractor Selection
Contract Management
Post-Completion
Commission & Turnover
Maintenance
Feasibility • Market Analysis • Portfolio Analysis • Site Selection and
Acquisition • Environmental
Review • Assumptions & Risk • Financial Analysis
Planning • Development Plan,
Schedule & Budget • Risk Assessment • Plant Configuration • Design
Specifications• Topographical
Studies• Taxes and Permits • Third Party
Permitting
Prioritize Projects • Risk Strategy • Strategic Fit• Selection
Capital Availability• Deal Structuring• Financing• Funding and Cash
Flow • Monitor Use of
Capital
Deal Approval • Portfolio Risk• Risk Committee • Deal Authorization
Owner Agreements • Owner Procedures • Third Party Services • Supply Chain
Logistics• Utilities & Permitting
Contractor Award • Plant Bid
Package • Scope
Clarification • Capability & Risk
Assessment • Negotiate Bid
Evaluation• Award
Notification Contracting• Terms and
Conditions • Permitting • Standstill Costs • Liquidated
Damages • Performance
Guarantees • Contractor
Schedule & Incentives
• Insurance and Bonding
• Review and Approvals
• Notice to Proceed
Contractor • Contract
Administration • Change Order
Authorization • Progress Billings • Claim Prevention • Work Oversight and
Inspection • Quality Assessment • Risk and Issue
Management• Status & Regulatory
Reporting
Project Financing • Letters of Credit • Contingency
Reserves• Project Draws • Covenant
Compliance• Change Order
Funding
Operations • Performance &
Guarantee Testing• Compliance &
Emissions Testing • Start-up Plan &
Responsibilities • Inspections • Operations Transfer
Close-out • Certificate of
Completion • Liquidated Damages • Warranty & Claims • Release of Liens • Contractual Terms
Post Audit• Contractor Audit • Post Financial
Analysis • Lessons Learned
Work Orders• Tracking • Suppliers/Sub-
contractors• Procurement of capital
Goods, Materials & Suppliers
Scheduling • Scheduling • Project Management • Service Delivery • Tools & Equipment • Fleet/Fixed Assets
Billing/Invoicing • Bill Rates • Travel & Expenses • Processing &
Collections
Warranty• Claims • Supplier/Subcontractor
Performance
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Pre-Feasibility / Feasibility and Planning
Resource Allocation and Commitment
Sub Processes Process Risks / Considerations
• Feasibility• Planning
• A business case was not documented or approved for the project• The processes to perform a scoping study, pre-feasibility and feasibility analysis may not
have been followed and documented. • There may not be documented processes for site selection/acquisition , environmental
analysis and financial analysis or the processes and analysis were not followed or performed.
• The budget may not be adequate to complete the project or the project plan may not address all identifiable risks.
Sub Processes Process Risks / Considerations
• Prioritize Projects• Capital Availability• Deal Approval• Owner
Agreements
• The capital expenditure may not be approved through proper corporate channels • Resources may not be available to complete the project• Competitive bids may not have been solicited and evaluated based on defined criteria to
select an Engineering, Procurement, Construction Management (EPCM) firm or other vendors.
• Controls are not in place to monitor cash flow and use of capital through-out the project• Status reporting and forecasting methodologies are not in place to assist management
monitor project status
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Contractor Selection
Contract Management
Sub Processes Process Risks / Considerations
• Contractor Award• Contracting
• The vendor selection process is inadequate or not followed (competitive bids are not solicited and adequately evaluated prior to awarding contracts to vendors).
• Contract terms and conditions are not advantageous to manage project costs or to allow management to monitor the vendors.
• Contractors may not be properly incentivized to complete quality work on time and on budget due to contract terms and conditions
• The scope of work is not adequate, clearly defined, or lends itself to change orders and project overruns.
• Contractors may not have the resources or expertise required to complete the project according to time and budget restraints
Sub Processes Process Risks / Considerations
• Contractor• Project Financing
• Change orders may not be properly reviewed and approved to identify changes to contract scope, terms, labor rates, and other modifications
• Change orders may include tasks that are included in the scope of the original contract• Contracts may not be accessible and stored in a central location• Invoices may not be properly reviewed prior to payment to verify compliance with contract
terms and conditions • Management may not review the quality and adequate completion of work prior to approval
of progress billings• Contingency may be improperly allocated
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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Commission and Turnover
Maintenance
Sub Processes Process Risks / Considerations
• Operations• Close-out• Post Audit
• Purchase orders may not be properly closed-out as work is completed.• Costs may not be properly allocated as capital project costs or operating costs.• Completed work is not properly reviewed by management or the EPCM firm for acceptable
quality prior to acceptance and release of contingency
Sub Processes Process Risks / Considerations
• Work Orders• Scheduling• Billing / Invoicing • Warranty
• Inefficiencies may exist in the supply chain (procurement and sourcing of goods and services)
• Management may not allocate sufficient resources to adequately manage the project
© 2013 Protiviti Inc. CONFIDENTIAL: This document is for your company's internal use only and may not be copied nor distributed to another third party.
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