NEW FIDIC CONTRACTS WILL BE LAUNCHED IN THE NEXT TWO DAYS
After an 18 year gap, the engineering, construction and infrastructure industries worldwide are eagerly awaiting the upcoming launch of the new FIDIC suite of contracts for engineering and construction projects.
The contracts will be released in London on 5 and 6 December 2017. Consultant Stephanie McDonald will be representing Bowmans at the event, which is part of the 30th anniversary conference of the International Federation of Consulting Engineers (FIDIC).
FIDIC’s suite of contracts and business practice documents are used by consulting engineers for construction projects the world over.
The suite of contracts covers a wide range of projects and procurement methods, and is known as the Rainbow Suite, with colour-coded books for different categories of contracts. The new editions being launched at the FIDIC conference are the Red, Yellow and Silver Books.
The industry has had sight of pre-release versions of the Yellow Book Amendments, but one question people are asking is whether the London conference will reveal any last-minute surprises.
Industry players are likely to be especially interested in the risks and insurance provisions in the new books, the enhanced claims provisions which provide for more certainty, the new Dispute Adjudication Board constitution, amendments to termination procedures, and the latest FIDIC guidance for dealing with modified contracts.
Although the changes are not expected to change the core of FIDIC, they are expected to usher in a greater era of certainty and smoother project management.
We will ensure that key highlights of the 2017 FIDIC suite of contracts are communicated to clients interested in ascertaining how they apply to projects in Africa and South Africa.