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FIDIC AND ENAA COMPARISION In the complex and technical world of construction and large manufacturing projects, the contracts and negotiations on the terms of an agreement between the parties are a means to keep the complex relation of parties within the bounds of clear understanding by utilizing a standard form…
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Строительное Право и Использование Времени Человечество создало время, чтобы держать организовать и структурировать свою жизнь. Это, по сути, социальная конструкция, в которой мы живем всю свою жизнь. Это не просто фундаментально, но необходимо для нашего выживания. Закон подобным же образом был создан нами, чтобы диктовать то, как мы должны…
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FIDIC in the Middle East - The Must Knows for Industry Players The UAE industry has seldom been ignorant to internationally set standards- that in more than one ways. Originally established as an organization by three founding countries Belgium, France, and Switzerland- today FIDIC, which is an abbreviation…
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Delay Penalty in Construction Contracts “No construction project is risk-free. Risk can be managed, minimized, shared, transferred or accepted. It cannot be ignored” -Michael Latham Scope and usage of back-to-back contracts Back-to-back contracts are becoming an increasingly common feature of construction projects. Construction projects typically involve the collaboration of three…
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Who is Liable to Pay when Circumstances for Construction Change? Construction has been one of the most dynamic industrial sectors in the Middle East due to the increase in need of palatial residential and office spaces that arise from the surfeit of expatriates that flock into the region every year.…
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Новый Закон Абу Даби о совместном владении имущества (Strata Law) Ничто так не действует на нервы как реклама агентств по недвижимости, кричащая «Купи Сейчас, Плати Потом». Если бы можно реализовать это в действительности, интересно, было бы написано на рекламном щите «Купи один, второй бесплатно»? Одной из ключевых проблем, с которой…
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Project Finance as the technique of financing any development idea is rapidly increasing in developing countries due to their drive to gain industrial development and improve infrastructural amenities. The infrastructural projects or projects relating to energy industry are usually funded by government through public funds since historical times due to…
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Draft with care! “The moral of the story is to agree first and to start work later”. Lord Clark INTRODUCTION The term “Letter of Intent” (LOI) is recognized by all commercial and construction professionals, yet not all practitioners are fully aware of the potential risks associated with such…
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The construction contracts are generally prepared as per Fédération Internationale des Ingénieurs-Conseils (the FIDIC) red books 1987 and 1999, yellow book and silver book contract forms specifically in UAE to deliver projects. The legal provisions applying to such contracts are UAE Civil Code, Federal Law No. 5 of 1985 as…
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Joint venture is an agreement between two or more parties wherein they principally agree on developing a new asset or entity by infusing equity for a term. In a joint venture transaction, parties agree to co-operate with each other and term of joint venture may be defined or open. Parties…
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Construction Insight: The sight of a rainbow in the middle of a desert is a rather recherché glimpse. United Arab Emirates however, is not a conventional desert panorama come true. Take for example the construction industry in the region. There is an interesting mix of cultures and…
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Decree Number 21 of 2013 – One Year Later We’re all familiar with the story. Mr A buys property off-plan. Developer advises property will be completed by 201X. Mr A awaits handover with anticipation. 201X comes and goes, with no news on the property. Developer or sales agent contact Mr…
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На самом деле фраза «проверка с должной осмотрительностью» легко ассоциируется с юридической отраслью. Но, напомнив себе ее основное определение, мы понимаем, что каждый из нас выполняет эту проверку сотни раз в день. Мы можем проверять прогноз погоды или отчеты о пробках перед выходом из дома, читать отзывы о фильме для…
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