The Pink Book is the form of contract used by MDBs for construction projects (building and engineering works designed by the employer) for which MDBs are providing finance. First published in May 2005 it was then revised in March 2006 and June 2010.
Before 2005, MDBs commonly adopted the FIDIC General Conditions of Contract (including the 1999 Red Book) as part of the standard bidding documents that they required their borrowers or aid beneficiaries to follow.
However, the reality was that MDBs usually heavily amended the FIDIC General Conditions of Contract by introducing additional clauses. These additional clauses were often standard and repeated whenever bidding documents had to be prepared, which led to increased inefficiencies at the procurement stage. In addition, different MDBs used different amendments, which created a level of uncertainty amongst the users of the documents.
The MDBs then realised that all users of the tender documents (the MDB itself, the borrower and others involved with project procurement, including consulting engineers and contractors) would benefit from an harmonisation of these documents by including the most common changes, previously introduced by MDBs in the Particular Conditions, in the General Conditions of Contract.
So, it was with this in mind that the heads of procurement of the MDBs and FIDIC decided to work together to produce the FIDIC Pink Book. This harmonised document included modified General Conditions of Contract but also contains provisions for Particular Conditions, as most contracts will still need to be tailored to the requirements of specific projects and countries.
The FIDIC Pink Book also includes sample forms for Contract Data (Particular Conditions – Part A), Securities, Bonds, Guarantees and Dispute Board agreements.
So, this 1-day training course has been designed and developed to tackle all of the uncertainty when working with the FIDIC MDB Harmonised Construction Contract and it provides you with information and guidance for preparing contracts using the FIDIC MDB Harmonised Construction Contracts.