What you need to know
The new FIDIC Rainbow Suite of Contracts 2017 was officially
launched at the FIDIC Contract Users' Conference which took
place in London in December 2017.
The main aim of the revised suite of contracts is increased
clarity and certainty. Underpinning this aim has been the desire to
reduce the likelihood of disagreements about the interpretation of
the terms of the FIDIC contracts.
FIDIC has altered the contract provisions of the Red, Yellow and
Silver Books by making the provisions more prescriptive and by
setting out more clearly what is expected from the Employer, the
Contractor and the Engineer during the life and performance of the
contracts. This, together with the introduction of enhanced
step-by-step project management and procedural mechanisms, puts a
greater administrative burden on users and makes knowledge of the
detailed contract provisions even more important.
