EPCContractsPPT.pptVIP

* Key Risks and Contract Terms (cont’d) Variations Instructed by the owner Resulting from changes in law or standards Examples of risk allocation Price and payment Lump sum or other? Currency issues Input cost fluctuation Milestones or measurement? Offsite materials * Key Risks and Contract Terms (cont’d) Advance payments Cashflow neutrality Payment security for contractor Set-off and correction ECA requirements Remedies for non-payment Role of lender’s engineer * Key Risks and Contract Terms (cont’d) Termination For owner convenience Payment of profit For force majeure For owner default Typ