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Evgeny Smirnov
European Bank for Reconstruction and Development
FIDIC MDB Harmonised Construction Contract Conference
Regional Issues
Pros and Cons of using FIDIC Contracts
Background
EBRD 3,374 projects for EUR 210.7 billion
EUR 71.1 billion invested by EBRD:
EUR 55.7 billion – private sector
EUR 15.4 billion – public sector
FIDIC MDB Harmonised Construction Contract Conference
Regional Issues
Pros and Cons of using FIDIC Contracts
“There is nothing either good or bad, but thinking makes it so…”
Hamlet, William Shakespeare
Responses
• 12 countries in Eastern Europe, Turkey and FSU countries
• Power, Transport, Municipal and Nuclear Safety sectors
• 38 respondents
• Contracts range: EUR 3 million to EUR 991 million
FIDIC MDB Harmonised Construction Contract Conference
Regional Issues
Pros and Cons of using FIDIC Contracts
“Beauty is bought by judgement of the eye,
Not utter'd by base sale of chapmen's tongues…”
Love's Labours Lost, William Shakespeare
View of EBRD
• Well balanced contracts
• Easily adoptable to specific country conditions
• Specific MDB provisions included
• Suitable for a wide range of projects
• Well known on the market
• Aimed at timely completion within the original cost
• Presence of a professional engineering support
• Efficient dispute resolution mechanism
FIDIC MDB Harmonised Construction Contract Conference
Regional Issues
Pros and Cons of using FIDIC Contracts
“What's in a name? That which we call a rose…”
Romeo and Juliet, William Shakespeare
View of Respondents
• Users are generally satisfied
• Well balanced risks of the parties
• Fair and complete
• Well known throughout the industry
• Simple, but covering main contractual issues well, being based on vast experience
• Standardisation and availability of the documents for different type of projects
FIDIC MDB Harmonised Construction Contract Conference
Regional Issues
Pros and Cons of using FIDIC Contracts
“Oft expectation fails, and most oft there
Where most it promises…”
All’s well that ends well, William Shakespeare
Secretariat FIDIC
World Trade Center 2
Geneva Airport
Box 311
CH-1215 Geneva 15
Switzerland
Tel: +41 22 799 49 00
Fax: +41 22 799 49 01
fidic@fidic.org
www.fidic.org