Contract Administration

Contract Administration

Bonded issues

by Dennis Brand

As we saw previously, contractors in the construction industry are commonly required to provide bonds or guarantees as performance security. These should be unconditional, on demand and issued by a bank that is acceptable to the employer. Examples of the types of bonds and guarantees available follows. …

Contract Administration

The UAE Civil Code and Claims under the Red Book FIDIC in the UAE

The UAE Civil Code and Claims under the Red Book FIDIC in the UAE
For all its innovation and spectacular achievements, the
construction industry in the UAE has been slow to move on from
its close relationship with the FIDIC Red Book (4th Edition) (the
Red Book). This was, of course, superseded long ago and it is
scarcely used anywhere else in the world, outside of this region. …

Contract Administration

Dubai Escrow Law

By Mark Cijo

Dubai, one of the seven emirates that constitute the United Arab Emirates, is one of the hottest real estate markets in the world right now. Lawmakers in Dubai have shown their willingness to help this trend continue with a recent change to Dubai escrow law. …

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