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ICC
Publishing's year starts with issue of new model contract
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ICC model contracts are on the production line |
Paris,
7 January 2004
- An ICC model contract for the turnkey supply of an industrial plant
is ICC Publishing's first Book of the Month for 2004.
The text joins the
series of ICC model c
ontacts used by business practitioners the world
over to provide confidence that commercial transactions meet accepted
principles.
The new model contract
covers those turnkey contracts that are limited to the plant or production
line. It does not extend to items that "surround " the plant,
such as buildings and supply of energy.
Model contracts already
available from ICC Publishing cover sale, distributorship, franchising
and commercial agency.
Turnkey contracts
take various forms and no single contract covers them all. The Model Contract
for the Turnkey Supply of an Industrial Plant has several special characteristics:
- The supplier's
main obligation is to supply the equipment and assist the purchaser
during erection and start-up;
- The supplier performs
its obligations within facilities that are under the purchaser's control.
- The model contract
is generally governed by the rules on sale contracts.
While taking account
of all these specifics, this model contract contains enough flexibility
for the parties to work out special situations for themselves.
The Model Contract
for the Turnkey Supply of an Industrial Plant may be ordered from ICC
Publishing, in Paris, online from the ICC Business Bookstore, or from
ICC national committees around the world. Purchasers will also receive
the text of the contract on CD-ROM.
Watch out for the
publication shortly of three more ICC model contracts, covering turnkey
contracts for major construction projects, mergers and acquisitions, and
selective distributorships.
ICC
Commission on Commercial Law and Practice
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