Description
With the ICC Model Turnkey Contract for Major Projects, the International Chamber of Commerce (ICC) provides a uniquely balanced model that is fair to both contractors and employers. It accommodates the desire of all parties for price and scope certainty and the need for swift and effective dispute resolution and complete and informed allocation of risks.
Balance between the parties has been provided through the inclusion of a good faith concept, explanation of the purpose of certain provisions to avoid misinterpretation and the use, where possible, of equal and mirrored obligations of the parties.
This model takes an innovative approach, reflecting the growing importance of information technology through inclusion of detailed provisions on software issues. The model also addresses bribery and corruption, in keeping with the ICC approach in favour of transparency.
Equally intended for use in public and private contracts—whether tendered or individually negotiated, as part of the “BOT/DBFM” project documentation, and in externally financed projects—the model contract was prepared with a view to furthering the proper functioning of the construction industry, particularly within the context of international development. In setting out the parties’ obligations in a clear and succinct fashion, it is intended to minimise recourse to national law.
Each ICC Model Contract includes a fully editable version in Microsoft Word, permitting you to easily adapt the contract to your specific case.
