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Escalating construction costs under FIDIC: is Sub-Clause 13.8 an answer?

Construction costs are escalating. Under existing contracts, an employer will not want to pay more for the works. But forcing a contractor to perform works that are unprofitable or causing a massive loss is unlikely to be in the best interests of the project. It may result in the insolvency of the contractor forcing the employer to abandon the contract or re-let it, probably at a premium. Is a mechanism for cost adjustment, such as FIDIC 1999 Sub-Clause 13.8 [Adjustments for Changes in Costs], an answer?

By |August 30th, 2022|Cost, featured, Knowledge Hub|Comments Off on Escalating construction costs under FIDIC: is Sub-Clause 13.8 an answer?

International Arbitration and Third Party Funding: Time to Rethink Reward and Risk?

The English Commercial Court has now confirmed in two separate decisions that an arbitral tribunal may award a winning claimant its third party funding costs. How significant are these decisions and it is time to rethink the potential reward and risk of international arbitration?

By |March 18th, 2022|Arbitration, Knowledge Hub|Comments Off on International Arbitration and Third Party Funding: Time to Rethink Reward and Risk?
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