White & Case partners Ellis Baker, Daniel Garton and Rebecca Shorter discuss some of the main differences between the First and the Second editions and the possible impact on the construction sector.
The new FIDIC Suite
The new FIDIC Suite is a major landmark in the development of international contracting for construction and engineering projects worldwide. It comprises three forms of construction contract:
The Red Book (Construction);
The Yellow Book (Plant & Design Build); and
The Silver Book (EPC/Turnkey).
The FIDIC Contracts have for many years been the pre-eminent standard-form construction contracts between employers and contractors for major projects globally. The new Suite seeks to build on the substantial experience gained from the use of the previous Suite over the last 18 years, since its release in 1999. As such, it is of great importance to all participants involved in the international construction industry, whether employers, contractors, subcontractors, consultants or lenders.
The Fédération Internationale Des Ingénieurs-Conseils (FIDIC) was founded in Belgium in 1913. Since then, it has become the foremost representative body for the world's consulting engineers, with member associations in some 100 countries.
FIDIC Contracts: Law and Practice is an authoritative text on the FIDIC Forms of Contract. It provides detailed commentary and analysis on the FIDIC Rainbow Suite, comprising the Red, Yellow and Silver Books, together with the MDB Harmonised Pink Book, and the DBO Gold Book.
It has sold more than 1,500 copies worldwide and is widely used by lawyers and construction professionals engaged in the development of construction and engineering projects, the administration of claims, and the avoidance and resolution of disputes around the globe.