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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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Larsen & Toubro (L&T) has secured a $1.5 billion mega contract from Saudi Aramco, reinforcing its strong presence in the Middle Eastโs energy sector. The deal involves large-scale engineering, procurement, and construction (EPC) work, likely suppor
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Akshay Kumar Sues Paresh Rawal for โน25 CRORE! ๐๐ฅ The report about Akshay Kumar suing Paresh Rawal for a whopping โน25 crore over an alleged midway exit from Hera Pheri 3 is a major headline. Allegations of "gross unprofessional conduct" and, cruc
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Confused by Legal Jargon? Hereโs How to Simplify It. Ever feel like legal terms are designed to confuse rather than clarify? Youโre not alone. Many business owners get stuck on words like โforce majeure,โ โindemnity,โ or โliquidated damages.โ
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๐ Grand Launch Alert โ EZZOMART is Live! ๐ฑ www.ezzomart.in ๐งฑ Indiaโs First All-in-One Construction Commerce Platform is here! Whether you're a builder, researcher, vendor, or homeowner โ EZZOMart is built for YOU. ๐น Buy construction materials o
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ConStructEase ConStructEase is a one-stop digital platform designed to simplify and modernize the construction and renovation experience for homeowners, property developers, and small businesses. In a world where building a home often means juggling
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