Part IV International Business Law, XXVI International Building and Construction Contracts

Subject(s):

Corporations — Competition — Definition of investment — International monetary law

This chapter describes two forms of international construction contracts: Fédération Internationale des Ingénieurs Conseils (FIDIC) Manuals and long-term contracts on building and subsequent operation. FIDIC contract terms govern issues like status and functions of the engineer and the possibility to re-measure of the contract. The second form of building contract discussed in this chapter is one that provides that the contractors shall also operate the building or installation for a given time. The classical form of this kind of contract refers to BOT (build, operate, transfer) projects, which provides for a transfer at an established time. Variations of these contracts are BOO contracts (build, own, operate), BOOT contracts (build, own, operate, transfer), BOTT contracts (build, own, train, transfer), and BLOT contracts (build, own, lease, operate, transfer).