Write an essay to discuss the obligation as to time and the significance of the Extension of Time ("EOT") clause under the construction contract. Your discussion should include the contractual implication of the EOT clause to the Employer as well as the Contractor, the difference between the listed events granting EOT only and those qualifying events which also allow Direct Loss and/or Expense (“L&E”) to the Contractor and the procedural matters in relation to the application/assessment of the EOT under SFBC2005, and give examples relating to the above given scenario to illustrate your answer. You are required to use case law to illustrate your answer (if applicable) and make all references using Harvard method.
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