Terms of the offer
EPC Contracts are comprehensive agreements in which a single contractor takes on full responsibility for the engineering (E), procurement (P), and construction (C) phases of a project. These contracts are typically executed on a turnkey lumpsum basis, meaning the contractor delivers a fully operational facility for a fixed price. A significant level of risk transfer characterizes these agreements, with the contractor assuming most of the financial, technical, and scheduling risks associated ... What is the Full form of EPC ? The full form of EPC is Engineering, Procurement and Construction . In the construction sector, EPC is a popular type of contract. A contractor-client relationship is defined here. It encompasses all the information about the construction project such as project design, material procurement and the labour & equipment needed for the completion. It also involves the time limits for the construction process and the amount payable to the contractor. EPC is a type of contract for large-scale and complex infrastructure projects, where a contractor delivers a complete facility to a developer for a fixed price and date. Learn more about EPC functions, variations, and examples from Wikipedia. An EPC contract is a fixed-term agreement where a contractor takes full responsibility for delivering a complete, operational project. This includes the engineering design, procurement of materials and equipment, and construction of the facility.
