An Introduction to EPC Contracts for Construction Professionals
What are EPC contracts, and why have they become so prevalent internationally for energy and other construction projects?
This full day course will explore how EPC contracts can deliver projects to meet the requirements of owners and their lenders in the energy and waste management sectors. Examine the principal risks, and remedies provided to owners where performance fails and the relief available to contractors in cases beyond their control.
This course focuses on key provisions commonly found in EPC contracts and the legal principles underpinning them. These are looked at from an English law perspective, but the international application of EPC contracts is also covered.
What You Will Learn
This course will cover the following:
- What is an EPC or turnkey contract?
- What is the ‘turnkey equation’?
- How does the contract transfer risk?
- Measuring performance and performance levels - low performance damages and relief events
- Fixed completion date - delay damages for late completion and extensions of time
- Fixed price - effect of variations, change of law and currency fluctuations
- Position of the engineer or ‘technical advisor’ - is there a duty of impartiality?
- ‘Single point’ design responsibility
- Fitness for purpose and insurance
- Liability for change orders
- Proving reliability and performance on completion - getting to final acceptance and the role of performance bonds
- Owner supplied equipment and interface risks
- Excluded works - ground conditions, O&M, asset management
- Limitations of liability and exclusive remedies
- Managing claims effectively
- Dispute resolution mechanisms
- Bribery and termination
9:30am - 5:15pm
Please let us know if you wish to be notified when new dates are added for this programme