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Engineering, procurement, and construction. Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. [1]
The NEC contracts now form a suite of contracts, with NEC being the brand name for the "family" of contracts. [16] When it was first launched in 1993, it was simply the "New Engineering Contract". This specific contract has been renamed the "Engineering and Construction Contract" which is the main contract used for any construction based project.
EPCI stands for Engineering, Procurement, Construction and Installation, a common form of contracting arrangement within offshore construction. The acronym EPIC for Engineering, Procurement, Installation & Commissioning is also used. Under an EPCI contract, the contractor will design the structure (s), procure the necessary materials, undertake ...
FIDIC. The International Federation of Consulting Engineers (commonly known as FIDIC, acronym for its French name Fédération Internationale Des Ingénieurs-Conseils) is an international standards organization for construction technology and consulting engineering. The organization is best known for the FIDIC suite of contract templates.
Early contractor involvement (ECI) is a type of construction contract where the principal contractor is engaged at an early stage in a project to offer input into the design phase. It is in contrast to the design–bid–build model where the contractor is only brought onboard at the end of the design phase. The model allows the contractor to ...
A power purchase agreement (PPA), or electricity power agreement, is a long-term contract between an electricity generator and a customer, usually a utility, government or company. [1][2] PPAs may last anywhere between 5 and 20 years, during which time the power purchaser buys energy at a pre-negotiated price. Such agreements play a key role in ...
Energy performance certificates (EPCs) are a rating scheme to summarise the energy efficiency of buildings. [4][5] The building is given a rating between A (Very efficient) - G (Inefficient). The EPC will also include tips about the most cost-effective ways to improve the home energy rating. Energy performance certificates are used in many ...
For the pricing technique, see cost-plus pricing. A cost-plus contract, also termed a cost plus contract, is a contract such that a contractor is paid for all of its allowed expenses, plus additional payment to allow for risk and incentive sharing. [1] Cost-reimbursement contracts contrast with fixed-price contract, in which the contractor is ...