The ins and outs of construction contracts

摘要

Industrial construction projects are becoming larger and more complex, with shorter schedules.1 To meet these challenging requirements, such construction projects are often executed by multiple entities located in different countries that may have different business objectives.2 Engineering and design may be carried out in one country with low-cost labor, while fabrication may be done in another country that has cheap material costs. Orchestrating such a complex arrangement under a tight budget and a demanding schedule is accomplished by using construction contracts.