FIDIC contracts are well established – better the devil you know
FIDIC forms of contract are widely and successfully used for international construction projects, largely because they are tried, tested and respected and because they seek a fair and balanced, or at least known, approach to risk and reward. Parties believe they know what they are signing up to when they enter into a FIDIC contract.
But FIDIC contracts are standard forms; they do not and cannot include all the provisions that the parties wish or need to include. The forms are intended to be amended to take into account, for example: (i) governing law; (ii) the location of the project; (iii) other special and particular characteristics of each project; and (iv) the parties’ particular preferences. Other amendments may simply be general improvements that clarify the drafting or reflect developments in practice, for example, including BIM provisions (where FIDIC has so far only provided guidance).