In Understanding and Negotiating EPC Contracts, Volume 1, Howard M. Steinberg presents a practical and comprehensive guide to understanding virtually every aspect of engineering, procurement and construction (EPC) contracts for infrastructure projects. The 25 chapters in Volume 1 are supplemented with real-life examples and court decisi
In Understanding and Negotiating EPC Contracts, Volume 1, Howard M. Steinberg presents a practical and comprehensive guide to understanding virtually every aspect of engineering, procurement and construction (EPC) contracts for infrastructure projects. The 25 chapters in Volume 1 are supplemented with real-life examples and court decisi
In Understanding and Negotiating EPC Contracts, Volume 1, Howard M. Steinberg presents a practical and comprehensive guide to understanding virtually every aspect of engineering, procurement and construction (EPC) contracts for infrastructure projects.
The 25 chapters in Volume 1 are supplemented with real-life examples and court decisions, and offer tactical advice for anyone who must negotiate or understand EPC contracts in connection with the implementation, financing or operation of infrastructure projects.
Emphasizing current market practices and strategic options for risk sharing, the book contains a narrative explanation of the underpinning of all of the issues involved in EPC contracting. Exhaustive in scope, it clarifies the fundamental commercial principles and pitfalls of "turnkey" contracting for all types of capital investments ranging from electrical and thermal power generation (including combined heat and power, nuclear, wind, solar, natural gas and coal) to refining, to chemical processing to LNG liquefaction and re-gasification to high speed rail, bridging, tunneling and road building. Providing clear and thorough analyses of the issues and challenges, this volume will be of great value to all those involved in complex construction projects.
Introduction
Chapter One A Historical Perspective
Chapter Two Choosing a
Development
Chapter Three The EPC Contractors Approach
Chapter Four
Beginning the Evaluation Process
Chapter Five Full Scale Development
Chapter
Six Philosophy of the EPC Contract
Chapter Seven Subcontractors
Chapter Eight
Site or Route Survey
Chapter Nine The Work
Chapter Ten The Sponsors
Obligations Under the EPC Contract
Chapter Eleven Monitoring the Progress of
the Work
Chapter Twelve Unforeseen Circumstances, Adjustments and Change
Orders
Chapter Thirteen The EPC Contractors Failure to Perform
Chapter
Fourteen The Owners Failure to Discharge Its Responsibilities
Chapter
Fifteen Unexpected Market Conditions
Chapter Sixteen Testing and Completion
of the Work
Chapter Seventeen Liquidated Damages for Delay and Impaired
Performance
Chapter Eighteen The EPC Contractors Warranties of the Work
Chapter Nineteen Security for the EPC Contractors Performance
Chapter Twenty
Limitations on Overall Liability and Contract Expiration
Chapter Twenty One
Payment for the Work
Chapter Twenty Two Title and Other Legal Matters
Chapter
Twenty Three Indemnification and Insurance
Chapter Twenty Four Dispute
Resolution and Governing Law
Chapter Twenty Five Interested Third Parties
Afterword
Howard M. Steinberg is of counsel and a retired partner in the law firm Shearman & Sterling LLP and has more than 25 years of legal experience in the infrastructure sector in more than 100 countries. He is named a leading lawyer in project finance by Chambers & Partners and IFLR 1000. He represents sponsors, offtakers, miners, suppliers, engineering firms, consultants, financial advisors, contractors, operators, underwriters, lenders, export credit agencies and multi-lateral institutions in the development, acquisition, restructuring and privatization of projects around the world. He holds bachelors and business degrees from Columbia University and a law degree from New York University.
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