Extensions of time (EOT) definition

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Construction Glossary—E

Construction Glossary—E A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Early neutral evaluation Early neutral evaluation is a form of alternative dispute resolution whereby the parties invite a neutral third party to give an opinion on the merits of the case or particular aspects of the case. The evaluator will generally be a lawyer or an expert in the field. See Practice Note: Early Neutral Evaluation (ENE). Early warning The early warning process is found most notably in the NEC3/NEC4 suite of contracts, but the concept exists in some other standard form contracts. It requires the parties to the contract to notify each other, as soon as either of them becomes aware of any matter that could increase the total cost, delay completion or impair the performance of the finished work, so that the parties can proactively deal with the issue. For more information on the process in the context of...

EPC contracts—employer remedies

EPC contracts—employer remedies EPC contracts are normally set up so that the contractor accepts much of the risk inherent in the project. The employer simply wants the project to be delivered on time and to perform according to specification, and leaves it to the contractor to work out how this should be done. The employer will usually have to pay a higher contract price as a result of this decision to pass most of the risks of the project onto the contractor. Having contracted to pay a premium price for the works, the employer will want to be sure that the project is actually completed on time and that it does perform according to the specification. The employer will want to be able to take action to ensure these things happen or to recover its losses if they do not. This Practice Note looks at the remedies the employer may have under the terms of an EPC contract. Delays to completion Under the terms of almost all EPC contracts the...