CABE announces support for two AIAC Malaysia Contract Publications
The publications – The Standard Form of Building Contracts, Main Contract and Sub-Contract (AIAC 2019 SFC) – provide comprehensive and unified contract templates that help to eliminate contract dispute by providing clear and unbiased standardisation.
The publications have been designed so that users can now customise contracts to meet their specific needs whilst eliminating the distinction between ‘With’ and ‘Without Quantities’. Further, they provide an option for the contract parties to select a Contract Administrator (CA). If no CA is appointed, then the project architect automatically becomes the CA, again, helping to minimise disputes.
The dispute resolution sections of the AIAC 2019 SFC incorporates the AIAC Arbitration Rules 2018 and the 2005 Arbitration Act (as amended 2018) and provides for adaptability to the latest tax regime. The AIAC is the first arbitral institution in the world to launch such a suite of contracts that are suitable for all construction projects, globally.
“The AIAC SFC reflects the best international standards and CABE is delighted to put its support behind its Standard Form of Building Contracts,” commented Dr Gavin Dunn, Chief Executive of CABE. “Contract disputes are time consuming and costly, anything that can be done to provide standardisation and clarity, can only be beneficial for all parties. As an organisation that has members working across design, construction, evaluation and maintenance, CABE has a unique understanding of the disputes that can arise. With eight international chapters – Middle East, USA, New Zealand Hong Kong, Singapore, China, Macau and Malaysia – we witness this from a global perspective. Standard Forms of Contacts, that can be adapted to local applications, is a vital step in helping to create a more efficient industry for all.”
The AIAC is a not-for-profit, non-governmental international arbitral institution which has been accorded independence and certain privileges and immunities by the Government of Malaysia for the purposes of executing its functions as an independent, international organisation. It has a proven track record for the provision of world-class institutional support as a neutral and independent venue for the conduct of domestic and international arbitration and other alternative dispute resolution (ADR) proceedings.
The centre was the first of its kind to be established under the Asian African Legal Consultative Organisation (AALCO), an international organisation comprising 47-member states from across the region. It was also the first centre in the world to adopt the UNCITRAL Rules for Arbitration as revised in 2013 and has its own set of procedural rules which governs the conduct of the entire arbitration proceedings from its commencement to its termination.
The AIAC 2019 SFC is available from the AIAC website where users will have the ability to customise, save, store and share completed contracts. Registered users may also save incomplete contracts for later completion.
