FULLFORMDEFINITION
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FULLFORMDEFINITION
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What is the full form of EPC? |
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Answer» EPC: Engineering, Procurement and ConstructionThe full form of EPC is Engineering, Procurement and Construction. It is also called as LSTK (Lump Sum Turn Key), EPIC (Engineering, Procurement, Installation & Commissioning) and EPCC (Engineering, Procurement, Construction and Commissioning). It is a form of contract in the construction industry. The contract is made between the contractor and the client. In the Engineering, Procurement and Construction (EPC) model, the Contractor is responsible for all activities, from the design, procurement construction, commissioning and delivery of the project to the End User or Owner, within a predetermined fixed schedule and may also imply scope for a penalty in case of excessive time. The client and the contractor must analyze each point in detail to avoid confusion and incompatibilities with the client’s requirements. Once the contract is made, it is the contractor’s responsibility to keep expenses on budget and complete the project within the specified time frame. Other full forms of EPC
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