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Copyright © International Chamber of Commerce (ICC). All rights reserved.
( Source of the document: ICC Digital Library )
ICC Model Subcontract is mainly designed for major turnkey projects but flexible enough to be used as a subcontract to other standard forms of contract as well. Taking into consideration that international turnkey construction projects are often multifaceted transactions that require complex legal documentation, the ICC Model Subcontract is the answer for all those who seek a reliable and balanced standard form to prevent drowning in a flood of papers and documents. This form is equally intended for use in public and private contracts (whether tendered or individually negotiated), as a part of the "BOT" project documentation, and in externally financed projects.
This Model Subcontract takes a fair and equitable approach to both contractors and subcontractors. It considers the interests of all parties by providing for price and scope certainty, swift and effective dispute resolution and complete, informed and responsible allocation of risks.
Perfect complement to the ICC Model Turnkey Contract for Major Projects, this vital tool for international business transactions completes ICC's series of successful model contracts. It provides for price and scope certainty, swift and effective dispute resolution and complete, informed and responsible allocation of risks. Balanced for both parties, it further includes a good faith concept, explanation of the purpose of certain provisions to avoid misinterpretation,where possible, the use of equal and mirrored obligations of the parties.