Equitas Consulting

ICC Model Turnkey Contract 2020 Revision Published

The  International Chamber of Commerce (ICC) has recently revised its Model Turnkey Contract for Major Projects. This model contract has been around for over a decade, and the ICC states that with this form it aims to provide a balanced contract with a swift and effective dispute resolution;

‘The aim of ICC in producing this form of contract is to provide a balanced contract for the parties to turnkey construction projects, while recognizing the desire of all parties for price and scope certainty, the need for swift and effective dispute resolution, and the need for complete and informed allocation of risks.’

The model form foresees a Dispute Board to be formed as per the ICC dispute Board Rules, followed by arbitration under the ICC Rules of Arbitration

You can access to all ICC publications via the ICC and ICC Turkey websites.