The Hidden Cost of Procurement Failures in EPC Projects: Case Studies and FIDIC-Based Legal Insights
Introduction In Engineering, Procurement, and Construction (EPC) projects, procurement is not a back-office function—it is a critical risk interface between design intent and physical execution. Among the various procurement risks, vendor delay remains one of the most persistent and underestimated threats. A typical scenario—advance payment released against a proforma invoice, followed by repeated assurances but … Read more