Forgot your password?
Please enter your email & we will send your password to you:
Copyright © International Chamber of Commerce (ICC). All rights reserved.
( Source of the document: ICC Digital Library )
International turnkey construction projects are often complex transactions, requiring correspondingly complex legal documentation. Moreover, many such major construction projects are an important element in international development, and it is vital that the arrangements put in place be durable, clear and equitable.
The ICC Model Turnkey Contract for Major Projects provides contractors and employers with a unique, balanced platform that is fair to all parties. At the same time, the model accommodates the desire of all parties for price and scope certainty, the need for swift and effective dispute resolution, and the need for complete and informed allocation of risks.
"As the ICC represents all parties to international business transactions, the model turnkey form has to be fair to all parties. It achieves this balance, amongst other ways, by making obligations bilateral where it is sensible to do so." -- Robert Knutson - Chartered International Arbitrator and UK Solicitor, MPhil Construction Law, MSc Construction Law and Arbitration, LLM International Law.
"The ICC Major Projects Contract is (…) an excellent model of a modern international turnkey contract based on an equilibrium of the rights and obligations between the employer and contractor, and a balanced risk allocation." -- Herfried Wöss (as published in Construction Law International Volume 3 No. 2 June 2008.) - Herfried Woess is a partner with Wöss & Partners, Mexico. As a multi-jurisdictionally trained lawyer, he is an expert in international dispute settlement and representative of the Dipute Resolution Board Foundation of the International Bar Association, London.