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In an EPC Contract the Contractor undertakes to engineer, procure, construct and commission a project from its inception to Final Completion. The Principal will provide the Contractor with a Design brief at the outset and will have a limited input into the project from then onwards. The Contractor is obliged to bring the project to such a stage of Practical Completion that the 'key' can be handed over to the Principal and the Principal can immediately commence operation of the completed project. (See also Turnkey Contract) |
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