Significant development for global construction projects as FIDIC launches updated and amended contracts in response to industry feedback.
In what is being seen as a significant development in the global construction contracts arena, international engineering federation FIDIC (the International Federation of Consulting Engineers) has published reprints of a number of its key construction contracts and published a new guide to their use.
With the full backing and support of the FIDIC contracts committee and the FIDIC board, the 2022 Reprints and a new, comprehensive FIDIC 2017 Contracts Guide have been published to take on board a number of comments and queries raised by users, which have given rise to further amendments to improve the use of the contracts in practice so helping to keep these leading industry construction contracts relevant and easy to use in a changing industry landscape.
The reprints include the following contracts: –
- FIDIC Construction Contract 2nd Edition (2017 Red Book, Reprinted 2022 with amendments).
- FIDIC Plant and Design-Build Contract 2nd Edition (2017 Yellow Book Reprinted 2022 with amendments).
- FIDIC EPC/Turnkey Contract 2nd Edition (2017 Silver Book Reprinted 2022 with amendments).
The new FIDIC 2017 Contracts Guide 2nd Edition 2022 offers users a comprehensive and practical overview of FIDIC’s suite of contracts and outlines key, detailed clause-by-clause guidance on the use of these industry leading documents.
Commenting on the launch of the reprints and the new guide, FIDIC president Tony Barry said: “The launch of the reprints and the new guide is a very significant development for FIDIC. We are proud to provide the global engineering and construction sector with the contract documentation it needs to work smarter and more efficiently and these newly launched publications are updated and amended to take into account feedback from the industry.”
The production of the reprints and the guide were a significant undertaking for FIDIC and the organisation’s contracts committee played a key role in leading the initiative. FIDIC contracts committee chair Vincent Leloup said: “The new 2022 Reprints and the FIDIC 2017 Contracts Guide have benefited from the skilled input of the members of the FIDIC contracts committee, as well as feedback from other legal and contractual experts and users from across the contracts landscape.
“The 2022 Reprints include amendments to the 2017 contracts, which aim to support the strongly growing market take-up of those contracts experienced in recent years, in particular from the development banks, by providing additional clarity and certainty in their use.”
FIDIC is recommending that all users of the above FIDIC conditions of contract should take note of the new amendments and improvements. Licence organisations and institutions are also advised to reflect on the amendments and take the necessary steps to update their documentation as needed. The amendments will be effective as of 1 January 2023 and are already available as three separate documents for free download from the FIDIC Bookshop on FIDIC’s website at fidic.org.
Users of the FIDIC contracts who have any questions about the new reprints and the contracts guide are encouraged to contact FIDIC at [email protected].