The COAA EPC Contract Committee has developed a standard form EPC Contract for use in industrial projects. This EPC Contract is intended to serve as a base document and can be modified by the parties with respect to a specific project. Where possible, definitions used in the COAA Stipulated Price Contract (2003) have been incorporated in this EPC Contract in an effort to standardise terms. This EPC Contract should be considered to be an industry benchmark and a document that can be modified on a project-specific basis
The Committee has tried to use plain language and avoid legalese. In addition, the defined terms have been italicised throughout the document so that readers are made aware that a term has a specific meaning. Since the EPC Contract is intended to be shared with and used by members of the COAA, there is no copyright in this document and members are encouraged to use the EPC Contract as a basis for industrial work. The Committee recognized that there are considerable differences between lump sum and cost reimbursable contracts. However, the goal was to draft a contract with the flexibility of different types of compensation for the Contractor. This flexibility has been achieved by referencing an Appendix that may be drafted to provide for compensation based on a lump sum, unit rate, cost reimbursable basis, or a combination of compensation terms. To make the EPC Contract as flexible as possible, the Committee has tried to make project specific criterion fit into the Appendices which can be attached on a project-by-project basis. In addition, there are a number of blanks left in the document that can be completed on a project by-project basis. These blanks are primarily in relation to identifying specific notice periods or insurance coverage amounts.
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