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ArticleWorlds Apart: EPC and EPCM Contracts: Risk issues and allocationBy Phil Loots and Nick Henchie November 2007 Worlds Apart: EPC and EPCM Contracts: Risk issues and allocationBy Phil Loots and Nick Henchie2 IntroductionFor many years now it seems that the most desired way for an Owner to procure a major construction project, particularly one being project financed, was via a fixed price, lump sum turnkey route; the so called engineering, procurement and construction contract ( EPC contract ). By this route, funders and Owners expect to get the degree of certainty as to time and costs that they require. Such has been the popularity of this method of procurement that organisations such as FIDIC responded to the need for appropriate standard forms that more closely reflected market conditions by, for example, the introduction of its Conditions of Contract for EPC/Turnkey Contracts (the Silver Book).

Article Worlds Apart: EPC and EPCM Contracts: Risk issues and allocation By Phil Loots and Nick Henchie November 2007

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