Bateman, G H (2009) The IChemE international forms of contract. Proceedings of Institution of Civil Engineers: Management, Procurement and Law, 162(4), pp. 169-174. ISSN 17514304
Abstract
The paper outlines the reasons for the Institution of Chemical Engineers (IChemE) publishing international forms of contract, the nature of output-based plant contracts for the delivery of process and performance plants, and the IChemE's approach to such contracts. Some comparisons are made with the Fidic Yellow Book conditions of contract for plant and design-build. The different payment mechanisms of lump sum price, cost reimbursable and target cost and the associated allocations of the risk of the cost of carrying out the work are outlined. The structure of the International forms and some of the general conditions are described, together with the drafting of the particular conditions for contracts based on the IChemE International Red Book (lump sum), International Green Book (cost reimbursable) and International Burgundy (target cost). Mention is made of the International Yellow Book form of subcontract. An indication is given of the use of the IChemE international forms. The paper concludes with a brief outline of some of the matters to consider when selecting which form of main contract to use for a particular project.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | contracts and law |
| Index terms: | form of contract, engineer, payment mechanism, subcontract, FIDIC, drafting, target cost |
| Subjects: | profession, contractual arrangements, standard forms of contract, technical documentation, economics, contract type, economic analysis |
| Topics: | Cost Management, Contract Administration, Roles and Professions, Business Strategy, Design Practice, Procurement |
| Descriptive scope: | 2 PC |
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