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ARTICLE · 11 DECEMBER 2019

FIDIC Golden Principles

FIDIC publishes a suite of contracts intended for use on international projects (often referred to as the Rainbow Suite).

United KingdomCorporate/Commercial Law

Introduction

FIDIC publishes a suite of contracts intended for use on international projects (often referred to as the Rainbow Suite). FIDIC has become concerned that its contracts are being heavily amended.  It considers these amended contracts may undermine its "brand" position as a fair and balanced internationally recognised suite of contracts for use in all jurisdictions. In June 2019, FIDIC published the first edition of its guide to the FIDIC Golden Principles. The Principles are intended to dissuade parties from making significant changes to its contracts. FIDIC consider that it is "misleading" to call a contract "FIDIC" if amendments undermine their Golden Principles.

FIDIC has always envisaged that its contract conditions would be supplemented by project specific contract provisions ("Particular Conditions"). The practise of amending standard form building contracts has been going on for as long as there have been standard form contracts. For example,

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