Gain valuable insight into the use of EPC and EPCM contracts and the associated risks.
The engineering, procurement, and construction (EPC) delivery method, commonly known as the turnkey delivery method, has long been the favored delivery method for owners of complex infrastructure, innovative/state of the art manufacturing, power, and renewable energy projects because EPC contracts make the EPC contractor the single point of responsibility for achieving an agreed upon level of performance at a set price, within a set period of time. Huge losses by contractors on EPC projects in recent years, however, have resulted in contractors considering the EPC delivery method the black sheep in the family of construction contracts. The engineering, procurement, and construction management (EPCM) delivery method is more favored by contractors than the EPC delivery method because the EPCM contractor is not directly at risk for the construction of the project with an EPCM contract; rather, the EPCM contractor designs the project and manages the construction on behalf of the owner. Loss of single point responsibility, however, makes the EPCM less attractive to owners because multiple points of responsibility make it difficult to get performance guarantees and can result in the owner getting caught up in disputes between the various contractors. This material will explore the use of EPC and EPCN contracts and the advantages and disadvantages of each delivery method. This information will review several of the provisions commonly found in EPC contracts and ways in which an EPC contractor can contractually control, manage, and reduce its risk under an EPC contract. This topic will also look at variations in the EPC delivery method, including the use of build-operate-transfer contracts and build-own-operate-transfer contracts, which may soften the EPC contractor's risk. This information will provide owners, developers, contractors, subcontractors, engineers, attorneys, and others who have an interest in the EPC and EPCM methods of project delivery with valuable insight into the use of EPC and EPCM contracts and the associated risks with these delivery methods.
Learning Objectives
- You will be able to describe the risks assumed by EPC contractors with the EPC delivery method.
- You will be able to identify common terms in EPC contracts not typically found in other construction contracts.
- You will be able to discuss the advantages and disadvantages to using the EPC and EPCM delivery methods.
- You will be able to explain ways by which contractor can reduce, control, and manage risk under an EPC contract.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Introduction
- Fundamentals of the EPC Delivery Method
- Fundamentals of the EPCM Delivery Method
Use of the EPC/EPCM Delivery Methods
- Advantages
- Disadvantages
EPC Provisions Not Typically in Other Contracts
- Cross-Payment Guarantees
- Firm Price and Schedule
- Mechanical Completion, Start-up, and Commissioning
- Performance Guarantees
Reducing EPC Contractor Risk
- Restrictions on Owner-Initiated Changes
- Limitations of Liability
- Sunset Remedies for Performance Breaches
EPC Variations
- Build-Operate-Transfer (BOT) Contracts
- Build-Own-Operate-Transfer (BOOT) Contracts
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on May 27, 2021.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Scott D. Cahalan
Smith, Gambrell & Russell, LLP
- Partner in the construction law section of Smith, Gambrell and Russell, LLP, an AmLaw 200 firm.
- Part-time instructor of Construction and Development Law at the Georgia Institute of Technology
- General counsel to the Georgia Utility Contractor’s Association
- Worked for an ENR® top 50 general contractor
- Drafted form construction contracts for the Associated Owners and Developers, a national association
- Recognized by Chambers USA, The Best Lawyers in America, and Georgia Super Lawyers
- Frequent author and lecturer on construction law
- Member of the State Bar of Georgia, Northern District of Georgia, and 11th Circuit Court of Appeals
- J.D., cum laude, from University of Georgia; B.S. in construction engineering from Iowa State University
- Contact information [email protected], [email protected], and (404) 815-3711
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.