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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What are the 4 types of construction contracts?

That said, its important to understand that there are four main types of construction contracts between GCs and subs: Fixed price/lump sum. Time and materials. Cost-plus. Unit price contract.

Are FIDIC contracts used in the US?

FIDIC document are by the Fdration Internationale Des Ingnieurs-Conseils. Although well-known internationally, FIDIC forms of contract are rarely used in the United States.

What are the 5 elements of a construction contract?

5 elements to include in a construction contract Scope of the project. The phrase scope of work is often too generic when referring to the expectations of the work performed. Total cost and payment requirements. Project timeline. Lien law protection. Dispute resolution.

What are the advantages of a FIDIC contract?

Advantages of FIDIC contracts As described by FIDIC itself in its Golden Principles, the contracts are recognised for ensuring a fair and balanced risk/reward. Indeed, one of the principles (GP3) recommends that the parties do not change the balance of risk/reward allocation in the contract.

What to avoid when writing construction contracts?

Top 10 Common Mistakes that We See in Construction Contracts Its not written down. Both parties havent signed the contract. Not all of the terms of the agreement are in writing and in the contract. The timeline is unclear. Particular terms arent defined. Theres no written approval of any changes to the contract.

What is the FIDIC contract?

Simply put, FIDIC contracts are the trusted international industry standard for a reason. The FIDIC suite provides contract templates that can be applied to almost any project in the AECO industry, and their effectiveness has been tested on countless projects throughout the world over the years.

What is a Fidic contract?

The FIDIC suite of contracts. The FIDIC suite of construction contracts is written and published by the International Federation of Consulting Engineers. The FIDIC acronym stands for the French version of the Federations name (Federation Internationale des Ingenieurs-Conseil).

What is FIDIC requirement?

has at least 10 years experience within a consulting engineering or engineering firm operating within the built and natural environment. possess detailed knowledge of FIDIC consultant-client agreements and FIDIC works contracts.

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