Principles of Project Finance

may arise from incompatible provisions in different Project Contracts. Each Proj-

ect Contract is not self-contained, but affects the others, and the contracting struc-

ture of the project must be reviewed as a whole.

Examples of areas where contract mismatches may arise are:

• Differences between COD under the EPC Contract and under the Project

Agreement (cf. §8.5.6)

• Differences between the first date for deliveries under the Input Supply Con-

tract and under the Offtake Contract

• A different procedure for fixing the cost of a variation in the project requested

under the Project Agreement by the Offtaker or Contracting Authority, and

for fixing the cost of the same variation in the EPC Contract, so that the cost

of the variation payable to the EPC Contractor ...