Welcome to Wisdom Waves Hub, your go-to resource for expert insights on engineering, procurement, and construction (EPC) contracts. In this article, we will delve into the critical aspects of managing claims and changes in EPC contracts, providing you with a thorough understanding of the processes, key clauses, and practical steps necessary for effective contract management.

EPC contracts, or Engineering, Procurement, and Construction contracts, are widely used in the construction industry to deliver complex projects. These contracts outline the responsibilities of the contractor in delivering a complete facility to the employer. Managing changes and claims effectively within these contracts is essential to ensure project success and avoid disputes.

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Time Stamp:

00:00 Introduction
01:48 Explanation of contract changes
02:38 Discussion on relevant FIDIC clauses
03:26 Differences between unilateral and bilateral changes in contracts.
06:33 Breakdown of directed, constructive, and cardinal changes in EPC contracts.
08:30 Overview of claims management and dispute resolution
11:19 Discussion on various remedies
13:21 Key practices for effective claims management
15:11 Differences between excusable and non-excusable delays
22:09 Detailed overview of the contract change management system (CCMS).
25:06 Various dispute resolution mechanisms include mediation, mini-trial, dispute board, and arbitration.
28:43 Final words from the presenters and invitation to subscribe to the channel for more content.

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