Showing 1189–1200 of 1429 resultsSorted by latest
This Skill Bit shows, that an EPC contract specifies essential permits and licenses, such as environmental or zoning approvals, assigning responsibility and timelines to prevent delays. It outlines consequences for missing deadlines, including suspension or liability for damages. The contract also defines delivery and acceptance terms, specifying delivery conditions (e.g., FOB or CFR), risk transfer,…
This Skill Bit shows, that all contracts should explicitly state the following: Supersession of prior agreements; Client’s reliance only on specified representations; Preservation of other provisions if one is declared invalid; Agreed language for technical, commercial, and dispute resolution aspects; Exclusion of third-party rights; Requirement of written, signed amendments; Specification of notice addresses and communication…
This Skill Bit shows, that in an EPC contract, the Contractor’s IPR and confidentiality obligations should cover written or electronic material, excluding publicly available or legally obtained third-party and Company-developed content. The terms should define time limits, IPR indemnity, scope, use, and secure handling. Confidentiality obligations must clearly state the Owner’s usage rights for Contractor…
This Skill Bit shows, that in an EPC contract, the change order procedure should allow the Contractor to propose reasonable changes and recover extra costs, covering aspects like Extensions of Time and Force Majeure. It must outline procedures, notice periods, documentation requirements, and risk allocation for smooth implementation and minimal disputes. Owner-initiated changes must be…
This Skill Bit shows, that the Owner’s remedies for breach, detailed in the Contractor’s Default clause, include all specified contract remedies and should define the Owner’s exclusive recourse. Termination for default is allowed only after exhausting remedies like curing defaults or paying LDs. A notice period is usually required before action. In an EPC contract,…
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…
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,…
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…
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…
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…
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….
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…
