3 EPC /TURNKEY PROJECTS THE SILVER BOOK IS INTENDED TO PROVIDE CONDI...

The Silver Book is intended to provide conditions of contract for ‘EPC/ tumkey

projects’. ‘EPC’ stands for ‘Engineer-Procure-Construct’, and indicates the

range of services the EPC contractor is meant to perform. The contractor in

such a project is responsible for the engineering design work to meet certain

performance requirements, for the full range of procurement for the project,

and for the construction work. EPC contracts are ‘turnkey’ contracts in that

the contractor provides a complete package, so that the employer or project

promoter has a structure ‘at the turn of a key’.