Approvals, Consents, Delivery and Acceptance in EPC Contracts

Description

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 and documentation requirements. Additionally, Clause 5, covering care and protection of works after delivery, is crucial to ensure proper contract execution and risk transfer. Meticulous negotiation ensures smooth project progress and compliance.

Duration approx. 4 Min.

Tier: advanced