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Saksham

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Bebyond • 1y

EPC (Engineering, Procurement, and Construction) contracts are crucial for large-scale projects, assigning full responsibility to one entity. However, they can lead to complex disputes, particularly around delays, costs, and quality. For startups in construction or infrastructure, understanding these contracts is vital. Key Points: 1. Scheduling: Delays can incur significant financial penalties. Contracts should clearly outline how such delays are handled. 2. Claims: Disputes may arise over time, costs, or quality. Clear contract terms can prevent costly legal battles. 3. Variations: Contracts often allow project changes, but disputes can occur if variations exceed agreed limits. 4. Damages: Sections 73 and 74 of Indian Contract Law deal with unliquidated and liquidated damages, respectively. For startups, mastering EPC contracts can protect your business and ensure smooth project execution.

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