Impacts of Covid-19, war in Ukraine, and rising inflation affecting construction projects.
This session will look at how events that have impacted the world over the last two to three years, such as the pandemic, Ukraine war, inflation of construction costs, and economic uncertainty and rising inflation, can be handled.
The session will examine the above experience under FIDIC Contract and will look at the contractual mechanisms (with a focus on the 1999 and 2017 Editions of the Red, Yellow, and Silver books) such as:
- Changes in law
- Adjustments for changes in cost
- Exceptional events
The session will also look at legal positions in different jurisdictions, whether civil or common law and examine the contractual and legal options that are at the disposal of the parties to a FIDIC Contract to navigate through these troubled times.
Moderator: Vincent Leloup, Chair, FIDIC Contracts Committee