ICC Publishing's year starts with issue of new model contract

More 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