R 2017 - 15

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Questions and Answers

What does the Contractor need to submit within 56 days after the issue of the Performance Certificate?

A final invoice

A request for arbitration

A progress report

A draft final Statement (correct)

In what form should the draft final Statement be submitted?

Multiple electronic copies

One paper-original, one electronic copy, and additional paper copies as stated in the Contract Data (correct)

Two electronic copies

Only one paper-original

What should the draft final Statement show in detail?

The Engineer's assessment

The value of all work done in accordance with the Contract (correct)

The Contractor's personal expenses

The market value of the project

When should the Contractor submit the draft final Statement?

Not delayed by reason of any referral under Sub-Clause 21.4 or any arbitration under Sub-Clause 21.6 Signup and view all the answers

What is the purpose of the draft final Statement?

To show the value of all work done in accordance with the Contract Signup and view all the answers

Under what circumstances should the Contractor submit the draft final Statement?

Submission should not be delayed by reason of any referral under Sub-Clause 21.4 or any arbitration under Sub-Clause 21.6 Signup and view all the answers

How many days does the Contractor have to submit the draft final Statement after the issue of the Performance Certificate?

56 days Signup and view all the answers

What action may lead to immediate termination of the Contract?

Engaging in corrupt, fraudulent, collusive, or coercive practice Signup and view all the answers

When may the Employer immediately terminate the Contract?

If the Contractor fails to comply with a Notice to Correct Signup and view all the answers

Under what circumstances can the Employer terminate the Contract without giving the Contractor a second Notice?

If the Contractor engages in corrupt practices Signup and view all the answers

What may lead to termination of the Contract unless remedied within 14 days?

Failing to comply with a Notice to Correct Signup and view all the answers

What may result in the Contractor receiving a second Notice from the Employer?

Failing to fulfill obligations under the Contract Signup and view all the answers

What may lead to immediate termination of the Contract without a second Notice?

Engaging in corrupt, fraudulent, collusive, or coercive practice Signup and view all the answers

Under what circumstances may the Contractor receive a second Notice from the Employer?

If the Contractor fails to fulfill obligations under the Contract Signup and view all the answers

What may result in immediate termination of the Contract without a second Notice?

Failing to comply with a Notice to Correct Signup and view all the answers

Under what circumstances may the Employer immediately terminate the Contract?

If the Contractor fails to comply with a Notice to Correct Signup and view all the answers

What happens if the Engineer disagrees with the draft final Statement?

The Engineer must promptly notify the Contractor and request further information. Signup and view all the answers

When does the Contractor submit a Partially Agreed Final Statement?

In case of disagreement or inability to agree on amounts. Signup and view all the answers

What does the Contractor's Final Statement or Partially Agreed Final Statement represent?

Full and final settlement of all moneys due under the Contract. Signup and view all the answers

What happens if the Contractor fails to submit the discharge confirming the total of the Statement?

It results in deemed submission and effectiveness upon fulfillment of conditions. Signup and view all the answers

When does the Engineer issue the Final Payment Certificate (FPC)?

Within 28 days after receiving the Final Statement or Partially Agreed Final Statement and the discharge. Signup and view all the answers

What happens if the Contractor disputes any part of the Final Payment Certificate (FPC)?

The Contractor must submit a Claim within 56 days of receiving the FPC. Signup and view all the answers

When must the Contractor make a Claim regarding the Final Payment Certificate (FPC)?

Within 56 days of receiving the FPC. Signup and view all the answers

What is the currency in which the Contract Price is to be paid?

Both local and foreign currencies as specified in Contract Data Signup and view all the answers

In what circumstances is the Employer's liability to Contractor not limited?

In cases of fraud, gross negligence, deliberate default, or reckless misconduct Signup and view all the answers

When are adjustments under Sub-Clause 13.2 or 13.3 to be made?

In specified currencies and proportions as per Contract Data Signup and view all the answers

What is the consequence of Contractor's failure to carry out obligations?

Engineer can issue Notice to Correct Signup and view all the answers

What are the conditions for termination by the Employer?

Contractor's failure constitutes a material breach or abandonment of Works Signup and view all the answers

What is the effect of termination under Clause 15.2.1?

Does not prejudice any other rights of the Employer Signup and view all the answers

When are the prevailing rates of exchange applicable?

If not stated in Contract Data Signup and view all the answers

Study Notes

FIDIC Contract Termination and Payment Conditions

Employer's liability to Contractor limited to payment under FPC and return of Performance Security
Employer's indemnification obligations and liability in cases of fraud, gross negligence, deliberate default, or reckless misconduct not limited
Contract Price to be paid in currency/currencies named in Contract Data
Proportions or amounts of local and foreign currencies and fixed rates of exchange for payments specified in Contract Data
Adjustments under Sub-Clause 13.2 or 13.3 to be made in specified currencies and proportions
Payment of Delay Damages, other payments to Employer, and recovery of balance in different currencies as per Contract Data
Rates of exchange prevailing on Base Date applicable if not stated in Contract Data
Engineer can issue Notice to Correct for Contractor's failure to carry out obligations
Contractor required to respond to Notice to Correct with measures to remedy failure within specified time
Termination by Employer permitted if Contractor's failure constitutes a material breach or abandonment of Works
Conditions for termination include failure to comply with Notice of rejection, subcontracting or assigning the Contract without required agreement
Termination under Clause 15.2.1 does not prejudice any other rights of the Employer

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Test your knowledge of FIDIC contract termination and payment conditions with this quiz covering employer's liability, contract price, currency payments, termination conditions, and engineer's notices.