Knowledge Hub
Final Investment Decision (FID): What is it? How it Works?
In many industries and corporations, the decision to develop and proceed with capital projects (e.g., the construction of a power plant, upgrades to an existing facility, construction of a new mining plant or oil and gas offshore platform)...
Balance of Plant (BoP) Contract: What is it? How it Works?
Construction contracts evolve to address industry needs, such as funding and financing requirements, risk appetite, and market conditions. With the recent increased flow of investments in energy projects, construction professionals have implemented different commercial arrangements to deliver these.Typically,...
What is Contract Novation? (Examples and Key Features)
To respond to the evolving nature of the construction industry, professionals in the niche have developed different procurement approaches and incorporated different contractual mechanisms to improve risk allocation and suit clients' preferences.One common mechanism found in contemporary contracting...
Public Private Partnerships (PPPs): What are they? How they Work?
Public-Private Partnerships (PPPs), also known as P3s, have emerged as a procurement option for many governments worldwide over the last few decades.At the heart of this contracting approach, public institutions aim to deliver better public services and improved...
Construction Manager at Risk (CMaR): What is it? How it Works?
Construction projects are known for their complexity and dynamic nature throughout their lifecycle. Over the last few decades, multiple contracting frameworks have been developed to improve risk allocation between the parties and optimise project outcomes.Among them, the construction...
Performance Bond: What is it and How it Works? (How to Obtain one?)
Insurance is crucial in mitigating risks and providing financial protection for various stakeholders involved in construction projects, such as owners, contractors, and financiers. These days, a wide range of policies exist with different coverage purposes. These guarantees are typically implemented to...
Front-end engineering design (FEED): What is It and How it Works?
The initial development of complex engineering projects, such as oil rigs, manufacturing, mining and energy plants, is typically associated with various challenges, such as creating extensive technical details and specifications, assessing constructability, identifying essential resources, supply chain risks,...
Design and Construct (D&C) Contracts – How do they Work?
Construction agreements have evolved throughout the years, and there are many variations to suit the best risk allocation between owners and contractors. Among them, design and construct (D&C) contracts emerge as one the most used commercial frameworks.But what...
Estoppel in Construction Contracts: How do they work?
Construction contracts govern the relationship between contractors and owners and specify the obligations and rights of each party in a project. In many instances, professionals without a solid legal background manage these agreements, and some legal jargon and...
What is an EPC Contract? (Key Features, Examples, and Tips)
EPC Contracts: Combining engineering, procurement, and construction for efficient project management. Learn more about their types and benefits.
All about the construction world: the latest industry news and trends, practical knowledge, and unique tips to help you on your projects.
