ABSTRACT
Federation Internationale des Ingenieurs-Conseils (FIDIC) publishes General Conditions of Contract that are widely used for international construction contracts. This chapter outlines the development of the Golden Principles (GPs), the reasons for them, and their application in drafting Particular Conditions. A contract recognised as a fair and balanced “FIDIC Contract” has real commercial value to both Employer and Contractor, both at the tendering stage and while the Works are being performed. The essential features of a FIDIC Contract that make the risk/reward allocation fair and balanced are referred to as the FIDIC GPs. The GPs were developed by Task Group 15, which reported to the FIDIC Contracts Committee. FIDIC has confined its attention to Particular Conditions that change the General Conditions to the extent that they do not comply with the GPs. A FIDIC Contract is based on the employer and the contractor undertaking their roles, duties, and obligations and having their rights under the General Conditions.
