Key Clauses in EPC Contracts: Performance Guarantees and LDs, Defects Obligations and Warranties

Description

This Skill Bit shows that Performance Guarantees and LDs in EPC contracts ensure contractors meet standards, specifying obligations and testing. LDs reflect the owner’s loss, acting as the main remedy for failures, while termination is allowed after the LD cap and cure period. Warranty terms define clear obligations, typically covering 12 months from acceptance and 24 months from delivery. They address latent defect liability with a reporting period and exclude damages post-warranty. Remedies are exclusive, and implied warranties are disclaimed.

Duration approx. 4 Min.

Tier: advanced