An EPC contract outlines roles, responsibilities, and expectations for a successful project. But what happens if the contractor falls short? A well-defined “Contractor Default” clause empowers you, the owner, to address breaches and protect your investment. Here’s a breakdown of key…
Imagine this: you’ve signed an EPC contract for a new building, excited to get started. Then, halfway through construction, you encounter unexpected soil contamination or buried utilities. Who’s responsible for the extra time and cost? In EPC contracts, it’s common for contractors…
Planning a major construction project requires clear communication and well-defined expectations. In the world of EPC contracts (Engineering, Procurement, and Construction), a solid foundation is essential for a successful outcome. This foundation starts with a clear understanding of when…
Negotiation isn’t just about reaching an agreement; it’s about anticipating what happens if one isn’t reached. Here are some potential consequences of a failed negotiation: Considering these possibilities is crucial when entering negotiations. By acknowledging…
Contractor schemes are a popular choice for project execution due to their clear structure and defined roles. But like any approach, they come with potential pitfalls. Being aware of these challenges can help principals and contractors work together…
Contracts are the backbone of business interactions, but they come with inherent risks. Enter Contract Risk Management – the strategic approach of identifying, assessing, and mitigating potential risks associated with contractual agreements. In this blog,…
Introduction: Contracts are the backbone of business relationships, outlining expectations, responsibilities, and obligations. However, within the complex web of contract terms and conditions lie various risks that can disrupt operations, tarnish reputations, and lead to…
Introduction: Contracts are the cornerstones of business relationships, and they come with their own set of risks. However, effective contract management doesn’t stop at identifying these risks. To ensure that business operations run smoothly and…
Introduction: In the realm of business, risk is an inherent part of every contractual agreement. Contracts outline commitments and obligations, but they also define how risks are allocated and shared among the parties involved. Effective…
