CNC introduced Key Changes in FIDIC Contract 2017 to Cofico in Jun 2018

Promptly after FIDIC introduced its new suite of FIDIC Contract 2017 in December 2017 at FIDIC International Users’ Conference in London, CNC was invited by Cofico to prepare and present the Key Changes in FIDIC Contract 2017 compared to FIDIC Contract 1999. This is our third invitation from Cofico following the previously two successful FIDIC Contracts 1999 training courses presented to Cofico and its subsidiaries during 2016 and 2017.

The attendances to the course this time were 43 senior staff holding different positions at Cofico, both in the offices, and at sites throughout Vietnam. The course highlighted a number of key changes in the FIDIC Contract 2017, including (i) the new roles of the Engineer; (ii) the structure of the new FIDIC Contract 2017; (iii) the new approach of the FIDIC pertaining to claims and dispute resolutions; and (iv) detailed step-by-step requirements on the employer, contractor, and the engineer during the course of a project.

The matter as to whether it is more convenient and beneficial to use the new suite of FIDIC Contract 2017 instead of its predecessor is often raised, and only time can reveal to us how effectively it works and what achievements it constitutes as well as the benefits it can bring about. However, it is eventually a very useful opportunity for Cofico and its subsidiaries to prepare for its upcoming contracts that Cofico are awarded as the general contractor, especially for the new trend of Design-Build Contracts in Vietnam which is Cofico’s core focus on.

The successful introduction to Cofico on this topic also defines our leading market position in introducing new international contract standards and practical practice to Vietnam’s contractors and employers evidenced by a number of other inquires made to CNC for the presentation of the other topics, including the Nominated Subcontractor Management, Extension of Time Claim Management, Variations and Dispute Management.