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The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work. EPC companies are often used in large-scale projects, such as power plants, refineries, chemical processing facilities, infrastructure projects, and ...
While, in EPC, like turnkey, projects are awarded on a contract to commissioning basis on a predetermined time and budget or a Lump Sum Turn Key (LSTK) contract, the nature of EPC contracts can be ...
The FEED package is used as the basis for bidding for Engineering, Procurement and Construction contracts (EPC, EPCI, etc) and is used as the design basis (or Basis of Design). A good FEED will reflect all of the client's project-specific requirements and avoid significant changes during the execution phase.
In EPCI contracts, the contractor rarely carries the project risk unconditionally. Rather, contractor and customer have detailed discussions on the division of the risk. Risk of delays and cost overruns due to lacking weather windows is an example of a typical risk that may be borne by the customer rather than the contractor.
This includes the assessment of the technical aspects of major contracts such as EPC contracts, power purchase agreement, off-take agreements, long-term service agreements, and O&M agreements. An independent engineer will review the technical inputs (output, efficiency, O&M expenses, availability, etc.) to the financial model used by the lender ...
The Swiss Guide is free for download and explains how EPC works and what the do's and don'ts are. The public tender procedure is explained step-by-step and illustrated by useful infographics. The Guide also includes useful tools for the analysis and implementation of EPC projects, such as templates for contracts.
The article Understanding Defense Department Contracts originally appeared on Fool.com. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, ...
An energy performance certificate (EPC) is a rating scheme to summarise the energy efficiency of buildings or devices. [1] [2] European Union.