EPC Contracts: Contractor’s Default Clause

Description

This Skill Bit shows, that the “Contractor’s Default clause” safeguards the Owner against the Contractor’s failure to fulfill contract terms. It outlines specific remedies, often exclusive, to address breaches, ensuring clarity and minimizing disputes. Conditions for termination include a reasonable cure period and clear triggers like failure to pay liquidated damages. Termination is a last resort, following exhaustion of remedies and proper notice. This clause fosters fairness, providing a structured approach to address non-performance while preserving the project’s integrity and contractual relationship.

Duration approx. 4 Min.

Tier: advanced