WebNov 18, 2024 · Progress payments are made while the project is ongoing, and they are made as a result of progress billing. (If you are using a construction contract from the American Institute of Architects, it’s also called AIA billing.) In this article, we’ll look at what progress payments are, the pros & cons, and how retainage affects progress payments. WebSome EPC performance guarantees ("PGs") require absolute compliance and impose unlimited make-good obligations on the contractor until attained. In other cases, the …
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WebAn EPC Contract is a project contract that is a risk mitigation and management tool. EPC contracts are designed deliberately to shift the construction risk to the contractor. They … WebBasic features of an EPC contract: The key features of an EPC contract are: Single point responsibility; Fixed contract price; Fixed completion date; Performance guarantee; … gaf williamsburg slate
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