FIDIC Guidance Memorandum on Effects of Inflation and Guidance to Users of FIDIC works contracts.
Covid-19 and war in Ukraine have caused high levels of inflation globally. This session will look at how construction projects are affected by inflation, increases in cost of materials, labour and other inputs and what measures are available to project participants to manage cost increases. This session will examine application of price adjustment under FIDIC 1999 and 2017 contracts and look at how the cost adjustment clause is used in different jurisdictions relevant to the EMEA region.
- Increase in cost, labour and other inputs.
- Adjustment for changes, entitlement under FIDIC contract.
- Application of price adjustment formula.
- Regional experience and entitlements under the law.
- Vincent Leloup, Chairman, FIDIC Contracts Committee
Adriana Spassova - EQE Control OOD
Peter Collie - FIDIC Contracts Committee
Rob Morson - Pinsent Masons
Refki El-Mujtahed - Besix Construct Group