If we could point to one thing that encapsulates the difference between Middle Eastern legal principles and common law principles, it is the central importance of ‘Good Faith’ in the former.
EPC (engineering, procurement, and construction) contracts emerged in the 1970s and 1980s as a response to the increasing complexity of large oil, gas, and power projects. By bundling all three project phases into a single agreement, the contractor is responsible for delivering the entire project.