You are the Owner's Senior Vice President. You have been asked to review and revise, where necessary, the attached EPC contract which has been prepared by a contractor. Review theentire contract, however, your assignment focuses on Articles II, III, IV, V and X.
Mark up sections II, III, IV, V and X with proposed changes as you deem appropriate. For convenience, the assignment is posted in both PDF and Word format. You may mark up the hard copy of the contract, you may modify using Adobe, or you may simply track changes in Word.
However, your method of conveying the suggested changes must be clear. If there are terms of art that have not been reviewed or addressed in class, you may assume that you are not required to address them.
The project in question is a seven (7) story commercial office building which will house your new company headquarters in Reston, Virginia. The original estimate for the work is USD 33 Million. The contractor is local but the contractor's corporate headquarters is in California.
Your goal is to protect the Owner from unnecessary risk in this contract, which, because it is an EPC contract, is intended to shift the risk of design and construction to the Contractor, in much the same way that a Design Build Contract works. You do not have to fill in any blanks as these items will be negotiated once the basic terms are agreed upon. Similarly, you do not need to complete or comment upon any of the attached exhibits.