Contract Management Under the Fidic Red Book 1999

Contract Management Under the Fidic Red Book 1999

Contract Management Under the Fidic Red Book 1999
Contract Management Under the Fidic Red Book 1999

Download a summary for Contract Management Under the Fidic Red Book 1999, it's will help you if you working or study contract management using Fidic Red Book 1999. 

WHO IS FIDIC ?

  • Fédération Internationale des Ingénieurs – Conseils French for: International Federation of Consulting Engineers 
  • Members are national associations of consulting engineers of over 60 countries with original founding members from France, Belgium and Switzerland. 
  • Located in Geneva, Switzerland since 1913. UK joined 1949, USA joined 1958. 
  • Private organisation with no governmental or international law functions or powers but with great influence in international construction.

What is the Contract Management?

Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees. The personnel involved in contract administration required to negotiate, support and manage effective contracts are often expensive to train and retain.

Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution. 

It can be summarized as the process of systematically and efficiently managing contract creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk.

The Role of the Engineer in FIDIC:

there is a third party involved in the Contract
  1. is appointed by the Employer (usually in the Particular Conditions) to administer the contract 
  2. is employed by the Employer through a separate contract (usually not known to the Contractor) 
  3. has all powers set out in the Contract (i.e. the contract between Employer ands Contractor) in respect to the Contractors
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