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What is FIDIC ?
(
International Federation of Consulting Engineers )
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FIDIC is the International
Federation of Consulting Engineers, known by its French acronym. It was
formed in 1913, with the objective of promoting the interests of consulting
engineering firms globally. It is best known for its range of standard
conditions of contract for the construction, plant and design
industries. The FIDIC forms are the most widely used forms of contract
internationally, including by the World Bank for its projects.
This guide will look at the Red and
Yellow Books under the FIDIC Suite of New Contracts.
What is the FIDIC family of
contracts?
The FIDIC 'Rainbow Suite' of New
Contracts was published in 1999 and includes:
- the Red Book: Conditions of Contract for
Construction for Building and Engineering Works Designed by the Employer;
- the Yellow Book: Conditions of Contract for
Plant and Design-Build;
- the Silver Book: Conditions of Contract for
EPC/Turnkey Projects;
- the Green Book: Conditions of Short Form of
Contract.
These 'new' forms were first
editions and designed to be user-friendly, with a standardised approach and a
reduction in the general conditions from over 60 to 20 clauses.
Additional forms in use since 1999
include:
- the Blue Book: Contract for Dredging and
Reclamation Works;
- MDB/FIDIC Contract: FIDIC conditions
incorporated in the standard bidding documents of multilateral development
banks;
- the White Book: Client/Consultant Model
Services Agreement;
- the Gold Book: FIDIC Design, Build and
Operate Projects.
To assist with implementing its
founding objectives, FIDIC's approach to drafting contracts has always been
underpinned by the principle that its contracts must provide a fair allocation
of risks between the parties to a contract, and that risks should be borne by
the party best able to control them.
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