The FINANCIAL– The International Chamber of Commerce (ICC) and the International Federation of Consulting Engineers (FIDIC) held their annual joint conference on construction contracts and dispute resolution in Tbilisi, Georgia last month.
Over 100 participants from 29 countries attended the high-level event to gain insight into ICC Arbitrations, FIDIC contracts and procedures for claims and disputes in the construction sector and network with top-level industry leaders.
Georgia’s Supreme Court Justice Nino Bakakuri and Minister of Justice Thea Tsulukiani spotlight importance of sound dispute resolution mechanisms for construction projects
CC International Court of Arbitration and the Government of Georgia to sign Memorandum of Understanding (MoU).
The event revealed that an MOU between the ICC Court and the government of Georgia will be signed in Paris, France before the end of the year.
The focus of the agreement is to strengthen cooperation between the two bodies and further develop synergies in areas of shared interest.
Strategically led by its Belt and Road Commission, the ICC Court aims to drive the development of its existing dispute resolution procedures and infrastructure to support disputes along the Belt and Road – also known as the Silk Road Economic Belt – including in Georgia which is ideally situated at the crossroads of Western Asia and Eastern Europe.
According to the 2017 ICC Dispute Resolution Statistics, construction and engineering disputes account for close to a quarter of all ICC Arbitration cases, while the finance and insurance sectors account for another 20%, on average. More specifically, of those construction and engineering cases, 32.6% involved parties from Central and East Europe. As a leading provider of dispute resolution services, ICC is well placed to handle disputes of any size and complexity.
The two-day conference brought together international experts who touched on a variety of topical issues concerning dispute resolution and construction contracts.
Panel discussions focused on a broad range of topics, including how ICC’s Emergency Arbitrator Procedure functions in the construction context; liability issues during the life of a project in construction disputes; the enforcement and enforceability of Dispute Adjudication Board decisions by arbitral tribunals in different jurisdictions; the specificities and opportunities of Belt and Road related projects and disputes in the region; and the operation in practice of the dispute avoidance and resolution clauses in FIDIC Contracts.
Participants came from all over to sharpen their skills and expand their professional network.
The annual event was an ideal opportunity for construction law practitioners to mix with their peers and to meet industry leaders face-to-face.
Participants gained an understanding of how other practitioners approach and overcome challenges; got hands-on demonstrations of fundamental techniques and strategies; and made key connections to potentially boost their careers.
