NTP (Notice to Proceed)
A formal instruction issued by the Employer authorizing the Contractor to commence work under the contract.
Glossary
Commencement Date
The date defined in the contract on which the time for completion of the works begins to run, often linked to the issuance of the Notice to Proceed (NTP).
FAC (Final Acceptance Certificate)
A certificate issued after all contractual obligations have been fulfilled and defects have been resolved.
PAC (Provisional Acceptance Certificate)
A certificate confirming that the works have been substantially completed and are ready for provisional acceptance.
TOC (Taking Over Certificate)
A certificate issued by the Employer confirming that the works have been completed and taken over.
COD (Commercial Operation Date)
The date on which the project or facility begins commercial operations and starts generating revenue.
Notice (Contract Notice)
A formal written communication required under the contract to notify the other party of specific events, claims, or intentions.
Scope of Work
A detailed description of the tasks, responsibilities, and deliverables that the Contractor is required to perform under the contract.
Subcontractor
A third party engaged by the Contractor to perform part of the work.
Delay Damages (Liquidated Damages)
Pre-agreed compensation payable for failure to complete the works within the specified time.
Payment Certificate
A document issued to certify the amount payable to the Contractor for completed work.
Extension of Time (EOT)
An extension to the contract completion date granted due to delays beyond the Contractor’s control.
Claim
A formal request by one party seeking additional time, cost, or contractual relief.
Variation (Change Order)
Any modification to the scope of work, including additions, omissions, or changes instructed by the Employer.
Force Majeure
An extraordinary event beyond the control of the parties, such as war or natural disasters, preventing contractual performance.
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