Showing 361–372 of 498 resultsSorted by latest
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Skill Bit
€ 25.00
This Skill Bit shows, that the EPC contract should outline the Owner’s rights for Contractor breaches, including work suspension, contract termination, instruction issuance, payment withholding, and damage recovery. Alternative remedies like specific performance may also be pursued. The Owner can offset amounts owed against damages. Contractor remedies include suspension or termination for non-payment, progress certification…
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Skill Bit
€ 25.00
This Skill Bit talks about “Gross Negligence”, which involves a reckless disregard for expected standards of care, far exceeding ordinary negligence. Bonds and guarantees should be conditional, with an automatic expiry date and require a written claim of default. A parent company guarantee may add security. Tax responsibilities in EPC contracts, including customs duties, VAT,…
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Skill Bit
€ 25.00
This Skill Bit shows, that in EPC contracts, indemnity obligations should be limited to contractor negligence and specific liabilities like death, injury, or property damage, with clear wording to avoid misunderstandings. Indemnities must be capped, exclude Owner’s Risks, and be covered by insurance, with the indemnifying party controlling claims defense. A limitation of liability clause…
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Skill Bit
€ 25.00
This Skill Bit shows, that in EPC contracts, Performance Guarantees and Liquidated Damages (LDs) ensure compliance with standards. Guarantees should reference technical specifications, with a reasonable rectification period. LDs must reflect the owner’s loss and be the primary remedy for non-performance, with termination only after reaching the LD cap. Warranty obligations should specify scope, set…
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Skill Bit
€ 25.00
This Skill Bit shows, that in an EPC contract, a robust quality assurance plan outlines the contractor’s responsibilities for maintaining quality, regulatory compliance, non-conformance rectification, and handling complaints. It includes testing mandates, inspection records, and penalties for non-compliance, ensuring quality throughout the project. Additionally, delay liability and liquidated damages (LDs) must be clearly defined, ensuring…
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Skill Bit
€ 25.00
This Skill Bit shows, that in an EPC contract, early consultation with insurance brokers is essential to ensure adequate coverage. The contract should define responsibilities for insurance, covering goods in transit, on-site risks, contractor’s equipment, third-party property, and personnel injury. It must specify insured parties, deductibles, insurance limits, and claims reporting protocols to mitigate risks….
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Skill Bit
€ 25.00
This Skill Bit shows, that in an EPC contract, clearly defining payment terms is vital. This includes down payments, cash-positive or cash-neutral terms, and retention payment timing. Security of payment, like an irrevocable letter of credit, should be specified for export orders. Invoicing procedures must also be outlined. The “care of the works” clause clarifies…
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Skill Bit
€ 25.00
This Skill Bit shows, that in an EPC contract, approvals and consents include necessary permits, such as environmental and building approvals, vital for project completion. Responsibilities and timelines for obtaining approvals, and consequences for delays or failures, must be clearly defined. Delivery and acceptance terms, such as INCOTERMS, should also be specified, alongside acceptance procedures…
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Skill Bit
€ 25.00
This Skill Bit shows, that in an EPC contract, the contractor often excludes or limits responsibility for certain site conditions beyond their control. These include below-ground risks, pre-existing soil contamination, unidentified site services, climatological factors, and environmental hazards unless specifically noted. The contractor is typically not accountable for unforeseen conditions or external factors, safeguarding against…
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Skill Bit
€ 25.00
This Skill Bit shows that in an EPC contract, the effectiveness of the agreement and the commencement of work are pivotal. In common law systems, effectiveness hinges on mutual agreement and contract signing, while civil law systems allow various means. Commencement of work signifies the contractor’s initiation of obligations, often linked to specific triggers like…
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Skill Bit
€ 25.00
This Skill Bit explores real-world procurement scenarios, highlighting key challenges, solutions, and best practices. This course equips managers with practical insights to enhance decision-making, optimize sourcing strategies, and effectively manage contracts in complex projects. Duration approx. 5 Min. Tier: advanced
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Skill Bit
€ 25.00
This Skill Bit shows that implementing a procurement strategy requires altering existing processes, facing resistance from staff and across the organization. Overcoming this resistance involves effective change management, clear communication, and comprehensive training to ensure successful adaptation to new processes. Duration approx. 4 Min. Tier: advanced
