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What does BOP mean in contracts?

However, for many reasons (including lower costs), owners in some projects split the EPC contract scope into two major agreements: a Balance of Plant Contract (BoP); and an Equipment Supply Agreement (also named Original Equipment Manufacturer OEM).

What is the full meaning of BOP?

In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world.

What does BOP contractor mean?

BOP Contractor means those Persons, other than Supplier, with whom Buyer contracts or subcontracts, to perform work in connection with the Project, including sub-subcontractors. BOP Contractors may also include Buyer in the event Buyer elects to perform any work in connection with the Project.

What is a BOP contractor?

BOP insurance helps to cover the following types of liability claims caused by your business. The coverage may also extend to a contractors liability for their completed projects. BOP insurance also includes first-party property and business interruption coverages for small- to medium-sized businesses.