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What is FIDIC? 10 Things You Should Know About FIDIC

FIDIC is well known for its work drafting standard form Conditions of Contract for the worldwide construction industry, particularly in the context of higher value international construction projects, and is endorsed by many multilateral development banks (“MDBs”).

Companies and organisations belong to FIDIC national member associations which now represent other professionals, such as architects. FIDIC also has affiliate members interested in its work, such as lawyers and insurers.

FIDIC-10-Things

 

How do Dispute Resolution Procedures work under FIDIC contracts?

Disputes can be adjudicated by referral to a Dispute Adjudication Board (DAB). The DAB will comprise of one or three members, the default position being three. (Clause 20.2)

How are the DAB members appointed? The contract may include a list of potential members, from which the board is selected. If three members, each party nominates one member for approval by the other party. Parties and members agree on the appointment of the third member, who will be chairman. (Clause 20.2.)

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Contents
1. What does “FIDIC” stand for
2. The history of FIDIC
3. What does FIDIC do?
4. What does the FIDIC Suite of Contracts cover?
5. What are the most popular forms & the FIDIC approach to risk allocation?
6. Traps for the unwary: No. 1 – Commencement date
7. Traps for the unwary: No. 2 – Notices – Condition Precedent
8. Traps for the unwary: No. 3 – Application of Laws
9. How do Dispute Resolution Procedures work under FIDIC contracts?
10. And No. 10…