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Nov 20, 2013

Understanding and Negotiating EPC Contracts

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New York Project Development & Finance partner Howard Steinberg has a two-volume book, titled Understanding and Negotiating EPC Contracts, set for June 2014 release by the UK’s Gower Publishing Limited (www.gowerpublishing.com). The book can be pre-ordered from their website.

The 25-chapter Volume I offers tactical advice for anyone who must negotiate or understand EPC contracts in connection with the implementation, financing or operation of infrastructure projects. The book explains the fundamental commercial principles and pitfalls of “turnkey” contracting for major infrastructure projects. Volume II contains an annotated model EPC contract.

This comprehensive set provides practical analysis of the issues and challenges of complex construction projects. Exhaustive in scope, the book enables professionals and non-professionals to understand the commercial, legal and financial elements of large construction projects and places readers in a stronger position to assess short and longer-term needs of clients and constituents.

The book can serve as a guide for all types of capital investments ranging from nuclear, wind, solar, natural gas and coal-fired power plants to high-speed railroads, bridges, tunnels, airports and LNG facilities.

The book has been well received by industry experts, including:

  • “Every lawyer involved in project finance should read this book!” Oscar Frota, Senior Legal Counsel, GDF Suez Energy – Latin America
  • “From the finance side, before we can even look at the economics of a project, we need to know that its contractual structure is sound. This book is a must for any serious banker.” Edmundo Lujan, Executive Director – Project Finance Latin America, Banco Bilbao Vizcaya Argentina S.A. (BBVA)
  • “There would be a lot less restructuring work if a proper risk allocation had been put in place since inception. This book provided a must-read guide to project parties to achieve that goal.” Jean-Valery Patin, Managing Director – Head of Project Finance/Latin America, BNP Paribas
  • “It’s truly astounding how much money companies will spend only to learn they do not have a project that can be financed. This book should be the first investment for any project.” Halil Sunar, Director of Power – Turkey, State Oil Company of Azerbajian (SOCAR)
  • “Financing projects is all about understanding the risks. Anyone who hasn't read this book is just giving himself an unnecessary handicap.” Natasha Kirby, Associate Director, Strategic Energy Solutions Group, HSBC

For more information or to order the books, click on the links below.