Introduction

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A suite of three new conditions of contract was published by FIDIC, following the basic structure and wording harmonized and updated around the previous FIDIC Design-Build and Turnkey Contract (the 1992 ‘‘Orange Book’’).

These conditions, known as the ‘‘FIDIC rainbow, were the Conditions of Contract for:

Construction, the so-called Red Book, for works designed by the Employer

Plant and Design-Build, the so-called Yellow Book, for works designed by the Contractor

EPC/Turnkey Projects, the so-called Silver Book, for works designed by the Contractor

Understanding the FIDIC Conditions of Contract is the key to preparing and managing FIDIC contracts.

Only a keen and comprehensive understanding of the contracts will help in avoiding disputes and the accompanying cost and time over-runs.

However, even though the FIDIC suite of contracts enjoys a worldwide reputation because they are widely accepted by employers, contractors, international financing organizations, engineers, and lawyers, regrettably, misunderstanding and poor practices lead to avoidable disputes.

In summary, I believe the Guide represents an invaluable resource that will raise the awareness of practitioners in the international construction industry to the rights and responsibilities of the parties under a FIDIC contract. Informative and accessible, the Guide provides employers, contractors, and engineers with the means to manage FIDIC-based contracts properly and in accordance with best-practice principles.
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