ERDEM-NEWSLETTER-2018-metin

45 COMMERCIAL LAW Updated FIDIC Contracts * Att. Tuna Colgar Introduction International Federation of Consulting Engineers that is known by the abbreviation of FIDIC (Fédération Internationale Des Ingé- nieurs-Counseils) launched updated Red Book (the Conditions of Contract for Works of Civil Engineering Construction), Yellow Book (the Conditions of Contract for Plant and Design-Build)) and Silver Book (the Conditions of Contract for EPC/Turnkey Projects) in the “International Contract Users Conference,” organized in London in December of 2017. Thus, the versions that have been in use since 1999 until today, have been expanded, updated and are more user-friendly contracts, formed by way of reflecting 18 years’ of experience of users of the contracts. What is the Objective of 2017 Updates? Firstly, as the risk distribution was unbalanced enough in the 1999 versions of the contracts, they were referred to, and used, according to which party they served, rather than their purposes. For example, the Silver Book was referred to as being in favor of the employer, and the Red Book was referred to as being in favor of the contrac- tor, rather than their purposes of publication. In the 2017 versions of the contracts, a more balanced risk distribution was made, and giving prominence to the functions of the contracts, was aimed. As another novelty, it was aimed to diversify project management mechanisms. In this respect, broader discretion and decision-making powers are given to “Engineers”. Uncertainties in project management * Article of April 2018