Excellent content. I am an Architect based in Scotland, using SBCC contracts (our version of the JCT) I typically use the Minor Works version for house extensions and it does not have a clause for inflation. This has caused serious issues on several jobs.
Yes, there are fluctuations provisions in FIDIC contracts. These provisions allow for adjustments to be made to the contract price due to changes in costs. For instance, changes in costs of labour, materials, or equipment can lead to adjustments in the contract price. Under FIDIC Red Book, 1999 edition, Clause 13.8 (don't quote me on this) provides for adjustments for changes in cost. The mechanism for adjusting the contract price due to cost fluctuations is typically set out in the Appendix to Tender. If no such mechanism is included, then no adjustments for changes in cost would be allowed under the contract, unless the parties agreed otherwise. However, please note that different editions of FIDIC may have different provisions and it's always advisable to refer to the specific contract document for the most accurate information.
Excellent content. I am an Architect based in Scotland, using SBCC contracts (our version of the JCT) I typically use the Minor Works version for house extensions and it does not have a clause for inflation. This has caused serious issues on several jobs.
Thank you for your kind comment! Would you find it useful if we do a series on the SBCC contracts?
@@Metroun Yes, the minor works 2016, please.
We'll add to our list!
These videos are great, keep them up❤
You're very welcome! Thank you for watching. Are you a Quantity Surveyor yourself?
Is there one for fidic contracts as well?
Yes, there are fluctuations provisions in FIDIC contracts. These provisions allow for adjustments to be made to the contract price due to changes in costs. For instance, changes in costs of labour, materials, or equipment can lead to adjustments in the contract price.
Under FIDIC Red Book, 1999 edition, Clause 13.8 (don't quote me on this) provides for adjustments for changes in cost. The mechanism for adjusting the contract price due to cost fluctuations is typically set out in the Appendix to Tender. If no such mechanism is included, then no adjustments for changes in cost would be allowed under the contract, unless the parties agreed otherwise.
However, please note that different editions of FIDIC may have different provisions and it's always advisable to refer to the specific contract document for the most accurate information.