| Title |
Identification of Contractual Risk Factors for Application in the Overseas Construction Projects based on FIDIC Red Book 1999 Edition |
| Authors |
현학봉(Hyun, Hak-Bong) ; 박형근(Park, Hyung-Keun) |
| DOI |
https://doi.org/10.12652/Ksce.2016.36.6.1153 |
| Keywords |
해외건설공사;해외건설계약;리스크인자 FIDIC;RED Book;Contract;Risk |
| Abstract |
There have been many studies on the subject of risks in the Construction Industry and many useful results have been produced. However, risk studies on the conditions of contract, which is the most critical contract documents, has not been tried despite of its contractual function in the overseas projects. In this study, various contractual risks are identified for proper and reasonable evaluation of the contractual risks possibly encountered in the Tender and/or Contract stages of the Projects. For development of study, FIDIC Red Book 1999 Edition which is world widely recognised as a standard conditions of contract prepared for the projects designed by the Employer. Contractual risks are divided into three levels and applicable clauses are assigned to each appropriate risk factors. And table of major contractual risk factors are made using the classified levels of each factors with evaluation criteria as a result of this study. As this study is made only for the conditions of contract which is prepared for the construction contracts designed by the Employer, further studies for other types of contracts such as Design-Build (FIDIC Yellow Book), EPC/Turnkey (FIDIC Silver Book) and recently developed Design, Build and Operate type of contract (FIDIC Gold Book) are required to cover various types of projects executed in the world construction markets. |