How to provide sufficient payment term in EP contracts By analyzing Epcontracts issues in "Shahid Tondgoian Petrochemical Company"

In this paper I want to show that how to provide payment term of Epcontracts . In first step, different stag es of setting - up of new plant project are explained based on references . After that it is described how to analyze and find out problem . Also in thes stage it will be cleared that one of the most problem in EP cotrcts is payment term. In next stage payment term of contract explained and its weaknesses in previous contracts are identified. Finally it is explained how payment term should be wisely adjusted. By this adjustment, owner could be protected himself from disproportionate payment and project would be supported.

Keywords:

Engineering , Procurement , Construction , Project , Payment , Progress , Contract