Jurisdiction(s):
United Kingdom

Key definition

FIDIC definition

What does FIDIC mean? In legal practice, FIDIC usually means the suite of standard‑form construction and engineering contracts published by the International federation of Consulting Engineers (Fédération Internationale des Ingénieurs‑Conseils), rather than the organisation itself. It is an industry term, not defined in legislation or case law. FIDIC contracts (commonly the Red, Yellow, Silver, Green, Gold, Blue and Emerald Books) are widely used on international infrastructure, EPC and design‑and‑build projects. Key legal features include the Engineer’s role as contract administrator and decision‑maker, detailed risk allocation, provisions on variations, payment, extensions of time and claims, strict notice and time‑bar requirements, and tiered dispute resolution using...

FIDIC 2017 Red, Yellow and Silver Books: calculating and adjusting the Contract Price (remeasurement v lump sum, variations, rate changes, value engineering, changes in law, defective work)

Published by a LexisNexis Construction expert

Practice notes

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Price is a pivotal consideration in any construction Contract. The FIDIC forms of contract adopt two distinct ways of setting the price. The Red and Pink Books operate as remeasurement contracts, whereas the Yellow, Silver and Gold Books proceed on a Lump sum fixed price basis. This Practice Note explores how the Contract Price in the 2017 editions of the FIDIC contracts (Red, Yellow and Silver Books) is derived, and the mechanisms by which it can be adjusted. For an overview of price in the 1999 editions of the Red, Yellow and Silver Books, and in the Pink and Gold Books, see Practice Note: FIDIC contracts (pre-2017 editions)—price.

Remeasurement

In remeasurement contracts, an initial appraisal of the value of the works is obtained by measuring the quantity of each work item (set out in a document called a bill of quantities) and multiplying it by the agreed rate for that item. This calculation is then repeated at the end of the project once all quantities have been remeasured to determine the contract price. The contractor is typically paid a portion of the contract price each month, following monthly measurements and valuations of...

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Web page updated on 21/05/2026

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