FIDIC Suite of Contracts: Updates to the Red, Yellow & Silver booksMay 2017
At the International Contract Users Conference held in London from 6 to 7 December 2016, FIDIC unveiled its proposed revisions to the 1999 Rainbow Suite of standard form contracts including the issuance of a pre-release version of the second edition of the Yellow Book, the contract used for the provision of electrical and/or mechanical plant and for design and execution of the building or engineering works (Plant & Design Build).
The FIDIC standard forms of contract are the predominant standard form of contract on international projects, particularly in Eastern Europe, Africa, the Middle East and Asia.
In this note, Natalie Ledger, Solicitor in our Dubai office, summarises the proposed changes to the Yellow Book and the impact of these if published.
It is important to remember that FIDIC has not yet published the final version of the new edition of the Yellow Book but they have promised to do so later this year.
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