ABSTRACT
Whilst Chapter 11 provided an introduction to the 2017 Red, Yellow and Silver Books, Chapter 12 sets out, in some detail, the risk and insurance clauses of the 2017 FIDIC forms of contract which are quite different from those in the 1999 editions of these forms and also from those in the 2008 Gold Book. The reason for such a significant change was mainly due to the publication in 2009 of the International Standard for Risk Management – Principles and Guidelines, ISO9000. This standard considerably changed and extended the definition of ‘risk’ and, as such, the method chosen for dealing with risk allocation in the 2017 editions was to return to the first principles that were used in the earlier editions of the Red Book, focusing more on the duty of care of the works.
This chapter sets out and details the contents of the new Clauses 17, 18 and 19 of the contract highlighting the purpose, intent and meaning behind each of the new clauses and also includes a comparison of the wording of each of these clauses of the Red, Yellow and Silver Books.
