A software company’s project management tool is a hit, but the market demands more. To stay ahead, they revamp the software’s functionality. Identifying Needs: Building a Collaborative Team: A cross-functional team tackles the challenge, prioritizing…
Imagine a bustling construction site for a large residential complex. Everything seems on track, but the contractor has a bright idea to make things even better. Their proposal: prefabricate building components off-site to boost efficiency…
Warranties act as a safety net in Engineering, Procurement, and Construction (EPC) contracts, guaranteeing the project’s quality and performance. Here’s how to express warranty obligations effectively. By incorporating these guidelines, EPC contracts establish clear expectations…
A Quality Assurance Plan (QAP) acts as the cornerstone for ensuring a successful EPC (Engineering, Procurement, and Construction) project. It provides a framework to guarantee the project’s output meets required standards and specifications.Let’s delve into…
In Engineering, Procurement, and Construction (EPC) contracts, insurance plays a vital role in risk management. Consulting with insurance professionals early on and including key insurance considerations in the contract are crucial steps. Here’s why: Benefits…
The “Care of the Works” clause acts as a safety net in Engineering, Procurement, and Construction (EPC) contracts. This clause outlines the Contractor’s responsibilities for maintaining and protecting the completed project until a specified period,…
In large-scale projects, the EPC contract is the cornerstone, outlining the rights and responsibilities of both the Owner and Contractor. A critical element of this contract is Liquidated Damages (LDs) for delays. These are enforceable…
Performance Liquidated Damages (LDs) are a key tool in Engineering, Procurement, and Construction (EPC) contracts. They act as a pre-determined financial compensation for the Owner if the Contractor misses project deadlines. These LDs incentivize the…
In the intricate world of Engineering, Procurement, and Construction (EPC) contracts, consequential damages can be a source of confusion and dispute. These are financial losses that arise not directly from a breach of contract, but…
