NAMTRUNG'S SERVICE - EPC CONTRACTOR CONTRACT

 EPC CONTRACTOR CONTRACT

EPC (short for Engineering, Procurement and Construction) means design, procurement and construction – a type of construction contract in which the contractor performs all the work from technical design, supply of materials and equipment to construction of works, items and testing and handover to the investor.

EPC general contractors are companies that provide EPC projects, responsible for implementing EPC contracts – contracts for design, supply of technological equipment and construction of works (according to Decree 59/2015/ND-CP)

An EPC general contract is different from a turnkey general contract (Lump Sum Turn Key – LSTK). In a “turnkey” contract, in addition to the design, supply of materials and equipment, and construction of works, the selected contractor also needs to prepare an investment project for the construction of the work.

Why choose EPC general contractor solution?

  • For the Investor, the application of the EPC Contract form allows the contractor to take advantage of the technical level and management experience when implementing the project/package and during the implementation process, because there is only one main responsible party, the Investor needs less human resources and costs for project management.
  • Providing finance for the project/package will also be more convenient because the advance payment and payment of capital are mainly based on the implementation phase or on the completed project/project item. Part of the risks, if any, during the design, supply and construction process will also be shared by the contractor with the Investor; the contractor’s project/package implementation time may be shorter because the contractor is more proactive in all stages of work during the implementation process.
  • On the Contractor’s side, the implementation of the EPC Contract form creates conditions for the Contractor to increase the flexibility in design and construction, and also creates better cooperation with the Investor’s supervision consultant on the construction site. The Contractor’s project/package implementation cost can be reduced due to savings in some expenses due to the combination of work stages during the implementation process.

Project implementation process

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