In December 2017, FIDIC published new editions of its contracts for Construction – Red Book; Plant & Design – Yellow Book; and EPC/Turnkey Projects – Silver Book. The Green Book was not updated so the 1999 version is still to be used.
The aim of the changes are to:
The main changes are:
The two main criticisms of the revised contracts are that they not drafted in a way that allows the adoption of a schedule of amendments (however FIDIC’s ‘Golden Principle’ is that the risk profile should not be changed) and that BIM has not been incorporated (although FIDIC intends to issue a Technology Guideline to support the use of BIM).
FIDIC 1999 versions can still be used, so it remains to be seen if the market will welcome the more prescriptive but proactive approach of FIDIC 2017.