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This two-volume collection offers a comprehensive practical and
legal guide to the complex process of negotiating engineering,
procurerment and construction contracts. In Understanding and
Negotiating EPC Contracts, Volume 1, Howard M. Steinberg explores
virtually every aspect of (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. The challenge of the parties to an EPC contract is
not to eliminate risk but rather put into place a narrative
structure that enables you to predict the contractual result if a
risk materializes. If the EPC contract does not allow the parties
to determine the consequences of an unanticipated situation, they
will have to look to an expert, mediator, tribunal, or court to
impart guidance or pass judgment. The sample forms of contract in
Volume 2 of Understanding and Negotiating EPC Contracts are
intended to serve as a guide to demonstrate how risks and
responsibilities can be allocated among project sponsors, EPC
contractors and the various other parties that may be involved in a
project.
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.
Any project which involves an EPC contract is also likely to
involve a number of other complicated contracts. The challenge of
the parties to an EPC contract is not to try to eliminate risk but
rather put into place a narrative structure that enables the
parties to predict the contractual result that would obtain if a
risk materializes. If the EPC contract does not allow the parties
to determine the consequences of an unanticipated situation, they
will have to look to an expert, mediator, tribunal, or court to
impart guidance or pass judgment. The sample forms of contract
contained in Volume 2 of Understanding and Negotiating EPC
Contracts are intended to serve as a guide to demonstrate how risks
and responsibilities can be allocated among project sponsors, EPC
contractors and the various other parties that may be involved in a
project. Collectively the sample forms in this volume offer an
extraordinary resource that provides the benefit of lessons learned
and priceless insight into any project being undertaken which can
help assure the resilience of any EPC project.
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