When it comes to payment terms in an EPC contract, the party making the payment, known as the "Employer" or "Owner," needs to be well aware of their responsibilities. It is crucial for the Employer to understand the payment scheduleoutlined in the contract and adhere to it closely. This...
ensuring engineering quality, and precisely controlling costs. Its core position is self-evident. From the establishment of the main contract to the detailing of subcontracting, every stage contains
3. Payment Terms: Review the payment schedule and ensure that it aligns with the project's cash flow requirements. Determine the conditions for payment, such as progress milestones or completion of specific deliverables. 4. Performance Guarantees: Evaluate the performance guarantees provided by the co...
还可降低总包方的回款风险.%Contract payment terms are the most important cause of contract disputes , and the signing of scientific and rigorous contract payment terms is a solution to the problem .When the contract of the mine EPC project is signed, following contract payment methods can be ...
1.1.4.8 “Statement” means a statement submitted by the Contractor as part of an application for payment under Clause 14 [Contract Price and Payment].“报表”系指承包商根据第14条[合同价格和付款]的规定提交的作为付款申请的组成部分的报表。1.1.5 Works and Goods工程和货物1.1.5.1 “Contractor’s ...
Another important aspect of an EPC contract is the cost and payment terms. The contract will specify the total project cost, as well as the payment schedule. This may include a lump sum payment, progress payments based on completed milestones, or a combination of both. Additionally, the contra...
12.1 The Contract Price shall be paid as specified in Article 4 (Terms of Payment) of the Agreement and EXHIBIT 6 (PAYMENT DOCUMENTS) to the Agreement.合同价格应按协议第4条（支付条款）及协议附录6（支付文件）规定予以支付。 12.2 No payment made by the Owner hereunder shall be deemed...
7. Payment Terms: Assess the proposed payment terms and milestones. Ensure that the payment schedule is linked to project progress and deliverables. This helps in controlling cash flow and avoiding excessive upfront payments that may pose a financial risk. 8. Financial Viability: Evaluate the finan...
1.1.4.3 “Final Statement” means the statement defined in Sub-Clause 14.11[Application for Final Payment]. “最终报表”系指第14.11款[最终付款的申请]规定的报表。 1.1.4.4 “Foreign Currency” means a currency in which part (or all) of the Contract Price is payable, but not the Local Currenc...
6.CONTRACTPRICEANDPAYMENT TheContractPriceisthetotalpriceforthedesign,procurement,andconstructionoftheProject,asspecifiedintheContractDocument. PaymentshallbemadebytheClienttotheContractorinaccordancewiththepaymenttermsandconditionsspecifiedintheContractDocument. ...