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Building to Spec: Guaranteeing Performance in Your EPC Contract
An EPC contract gets you a completed project, but will it meet your expectations? Here’s how to ensure the contractor delivers a project that performs as promised: By incorporating these provisions, your EPC contract sets clear expectations for performance. It ensures you get…
Keeping Your Project on Track: Delay Penalties in EPC Contracts
Deadlines matter. In an EPC contract, delays can cost you money. Here’s how to ensure clear expectations and manage potential setbacks: By incorporating these provisions, your EPC contract fosters clear communication and establishes a fair framework for managing delays. Both you and the contractor…
Safeguarding Your Project Timeline and Budget: Key Clauses in Your EPC Contract
EPC contracts offer efficiency, but unexpected events can disrupt timelines and budgets. Here’s how to ensure your contract protects your interests: By incorporating these provisions into your EPC contract, you take a conservative approach. It protects you from unforeseen circumstances while ensuring a…
Building Right: Why a Quality Assurance Plan is Essential in Your EPC Contract
Imagine investing in a project, only to discover later that corners were cut or standards weren’t met. An EPC contract with a robust Quality Assurance (QA) Plan prevents such nightmares. This plan acts as a roadmap for the contractor, ensuring they deliver top-notch…
Don’t Leave Your Project Exposed: Securing Your EPC Contract with Insurance
EPC contracts offer a streamlined approach to construction projects, but even the most meticulous plans can encounter unforeseen issues. Here’s why involving an insurance broker early on is a wise, conservative move. Insurance acts as a safety net, minimizing financial losses caused by accidents, theft, or…
Keeping the Money Flowing: Payment Terms in Your EPC Contract
A well-defined payment schedule is the lifeblood of any successful EPC (Engineering, Procurement, and Construction) project. Here’s how to ensure your contract keeps the money flowing smoothly. By addressing these key payment terms upfront in your EPC contract, you can avoid confusion, maintain a healthy…
Getting It Right: Deliveries and Acceptance in Your EPC Contract
A successful EPC (Engineering, Procurement, and Construction) project hinges on clear expectations around deliveries and acceptance. Here’s how to ensure your contract sets a solid foundation. By addressing these points comprehensively, your EPC contract ensures a smooth handover process, clear communication, and minimizes potential disputes. Remember, a well-defined…
Navigating the Permit Maze: Approvals in Your EPC Contract
Building a new project requires navigating a complex web of regulations. EPC contracts (Engineering, Procurement, and Construction) help ensure a smooth process, but understanding the permit and approval landscape is crucial. By proactively addressing approvals and consents in your EPC contract, you can avoid unnecessary…
Don’t Get Buried in Unexpected Costs: Understanding EPC Site Condition Exclusions
Imagine this: you’ve signed an EPC contract for a new building, excited to get started. Then, halfway through construction, you encounter unexpected soil contamination or buried utilities. Who’s responsible for the extra time and cost? In EPC contracts, it’s common for contractors to exclude or limit liability…