Understanding the Need for Extension of Time (EOT) in Construction Contracts
Construction projects, especially mega and complex developments, often encounter delays and unforeseen disruptions due to various factors such as weather conditions, supply chain issues, design modifications, regulatory approvals, and labor shortages. To ensure fairness in project execution and avoid contractual penalties, contractors can apply for an Extension of Time (EOT). An EOT claim allows for additional time to complete the project without facing liquidated damages or financial penalties. However, preparing an EOT claim is a challenging and time-intensive process, requiring expert knowledge, particularly in large-scale projects involving multiple stakeholders and complex contractual obligations. At SEACITY Project Services , we specialize in EOT claims consultancy , ensuring accurate claim preparation and strong contractual defense. Types of Extension of Time (EOT): Prospective vs. Retrospective 1. Prospective EOT A prospective Extension of Time is granted before t...