- Duration in hours: 3 x 4h
- Module level: Skill
Overview: This module is a deep review of the EPC Contract. The purpose is to understand how the Risks are shared between the Operator and its Contractors and how the Operator limits de Liabilities of his Contractors.
Audience: Package Managers, Project Engineers, Contract Engineers who will directly participate to the implementation of the Project Contractual Strategy.
Any stakeholders to a development project in the energy sector needs to understand the content of the EPC Contract in order to be able to manage the relationship with the EPC Contractors.
Deliverables: Upon completion of this module, Trainees will be able to manage an EPC Contract: The Performance of the Contract, the Financial Conditions, the Share of Liabilities between the Parties and the necessary insurances, the Legal Clauses.
General: Status of the Parties – Assignment – Sub-Contractor
Performance of the Contract: Work Time Schedule and Progress Control - The Certificates - Guarantees & Warranties - Change Orders & Claims.
Financial Conditions: Price structure – Price revision – Price perimeter – Invoicing conditions – Payment terms - Liquidated Damages.
Liabilities & Insurances: Various Liability principles – Insurances - Limitation of Liability.
Legal Clauses: Suspension – Termination – Force Majeure - Applicable Laws – Governing Law.