What does FIDIC mean? What do they do?
Well, 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.
FIDIC represents the consulting engineering indus-try both globally and domestically.
What are the FIDIC forms of contract?
FIDIC’s Contracts Committee produces standard forms of contract for civil engineering projects, which are used globally. The purpose of these standard forms is to define the contractual relationship between the par-ties and to apportion risks between the contractor and the employer. FIDIC states that their contracts allocate risks fairly to the party that is best able to bear and control that risk.
It is important to remember that the FIDIC forms represent a starting point for the preparation of a construc-tion contract. However, they are routinely amended to reflect the particular characteristics of each project and the requirements of the parties.
Choice of FIDIC form of contract
The forms of contract are drafted for use on a wide range of project types. The main forms are differentiated by the colour of their covers. The choice of form depends on the type of project being contemplated. In summary:
- straight forward, quick or cheap project – Green Book
• employer design (traditional project) – Red Book
• employer design (Multilateral Development Banks providing finance) – Pink Book • contractor design (traditional project) – Yellow Book
• EPC/Turnkey project – Silver Book
• design, build, operate project – Gold Book