Introduction to FIDIC Contracts

Founded in 1913, the Fédération Internationale des Ingénieurs-Conseils (FIDIC) is an international standards organization for consulting engineering and construction best known for its standard forms of contracts for the construction and engineering industry.

The FIDIC has a broad range of objectives aimed at promoting the consulting engineering industry and improving the quality and efficiency of construction and engineering projects globally. It represents the interests of consulting engineering firms internationally, advocating for policies and regulations that support the industry. They engage with international organizations, governments, and stakeholders to influence decision-making processes that affect the consulting engineering sector. Additionally, the FIDIC encourages the adoption of best practices in project management, engineering, and construction, providing guidance and resources to help professionals and organizations achieve high standards of quality and efficiency.

What are objectives FIDIC contracts?

One of the core objectives of the FIDIC is the standardization of contracts. They develop and maintain standard forms of contracts that are widely accepted and used globally, ensuring that these contracts fairly allocate risks between parties and provide clear guidelines for project execution and dispute resolution. These standardized contracts are crucial for promoting consistency, transparency, and efficiency in the construction and engineering industry, facilitating smoother project management and better outcomes for all parties involved.

Moreover, the FIDIC Contracts, known as “books,” are internationally recognized templates designed to streamline construction and engineering projects. Each “book” serves as a comprehensive guide tailored to different project types and relationships, with terms and conditions that clarify the roles, responsibilities, and risks for all parties involved. The use of these standardized contracts helps minimize disputes and improve project efficiency by providing a consistent framework for managing various types of projects.

The FIDIC offers (12) twelve distinct key standard contracts, each tailored to specific types of projects.

For more information, click the link: https://id.com.eg/fidic-contracts-in-egypt/

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