In an EPC (Engineering, Procurement, and Construction) project, unforeseen circumstances or adjustments to the project scope are inevitable. A well-defined change order procedure is crucial for managing these changes smoothly and fairly for both the…
An EPC (Engineering, Procurement, and Construction) contract’s Contractor’s Default Clause is a critical line of defense for the Owner. This clause outlines the remedies available to the Owner if the Contractor breaches the contract. Key…
An EPC (Engineering, Procurement, and Construction) contract isn’t a one-way street. The Contractor also has remedies available in case of breach by the Owner. A well-drafted contract clearly outlines these protections for the Contractor. Here…
An EPC (Engineering, Procurement, and Construction) contract safeguards the Owner’s (Principal’s) interests by outlining rights and remedies available in case of breach by the Contractor. Here’s a breakdown of these key rights: Remember: Created by…
A well-defined EPC (Engineering, Procurement, and Construction) contract is the cornerstone of a successful project. One critical area for clarity is the process for delivery and acceptance of goods and services. Here’s what a well-crafted…
Unit price payment contracts are a valuable tool for construction and procurement projects with variable scopes. Here’s what you need to know: Effective Management Strategies: By following these best practices, unit price payment contracts can…
Escrow payments contracts are a valuable tool for securing financial transactions across diverse industries. Here’s how to manage them effectively: By following these best practices, you can leverage escrow payments contracts to: Escrow payments contracts,…
Escrow payments contracts provide a secure way to manage financial transactions, but pitfalls can arise. Here’s how to navigate them: By prioritizing these practices, you can leverage escrow payments contracts effectively. Clear communication, detailed contracts,…
The way you pay for a project can significantly impact its success. Here’s a breakdown of three common payment structures: Choosing the Best Option: Consider these factors when selecting a payment structure: By understanding these…
