Our experienced team regularly advises on the drafting and negotiating of, and disputes that relate to, FIDIC contracts. FIDIC (Fédération Internationale des Ingénieurs-Conseils) is a French acronym for the International Federation of Consulting Engineers. The Federation was originally founded in 1913 by France, Belgium and Switzerland. The UK joined in 1949. The first edition of the FIDIC suite of contracts was introduced in 1957. They have since become the most widely used standard form of construction contract in the world.
There are several types of FIDIC contracts, each designed for different types of construction projects.
The most commonly used types are:
- FIDIC (new) Red Book/Conditions of Contract for Construction for Building and Engineering 3: This is the standard form of contract for construction projects involving the design and build of buildings and other structures. It is used for projects where the contractor is responsible for the design and construction of the project.
- FIDIC Yellow Book/Conditions of Contract for Plant and Design-Build for Electrical and Mechanical Plant and for Building and Engineering Works, Designed by the Contractor: The standard form of contract for construction projects involving the supply and installation of plant and machinery. It is used for projects where the contractor is responsible for the design, manufacture and installation of the plant and machinery.
- FIDIC Silver Book/Conditions of Contract for EPC/Turnkey Projects: A standard form of contract for turnkey projects, where the contractor is responsible for the design, construction and commissioning of the project. It is used for projects where the client wants a single point of responsibility for the entire project.
- FIDIC Gold Book/Contractor’s Design: This is a contract where the design is undertaken by the Contractor, who also assumes responsibility for the construction and operation of the Works.
- FIDIC Green Book/Short Form of Contract: The Green Book is intended for low-risk projects where a simple to use contract is appropriate and where there is no significant contract administration. This form of contract may be appropriate for repetitive works of a short duration and where the value of the works does not exceed $500,000.
FIDIC contracts are recognised and used internationally, making them ideal for projects that involve parties from different countries.
Ridgemont has extensive experience in drafting and negotiating FIDIC contracts. Our team of construction law experts provide expert advice on all aspects of FIDIC contracts. We pride ourselves on our ability to provide practical and commercially sound advice, helping our clients to achieve their objectives in a cost-effective and timely manner.