AIAC embarks on Standard Form of Building Contracts 2019 Johor Roadshow

KUALA LUMPUR, Dec 12 — The Asian International Arbitration Centre (AIAC) recently embarked on its third series of Roadshows for its Standard Form of Building Contracts (SFCs) in Johor.

The SFC Roadshow aimed to familiarise key industry players with the AIAC SFCs, including the AIAC 2019 SFC Main and Sub-Contracts (AIAC 2019 SFCs), Design and Build Contracts, as well as Minor Works Contracts.

According to a statement, AIAC strives to cover as many regions as possible in order to share and spread knowledge on the best practices within the construction industry.

This year, the SFCs Roadshows focus not only on the key features of the SFCs, but also how Arbitration, Adjudication and Mediation play a role in the AIAC SFCs.

Participants learned from the AIAC SFC Expert Advisory Committee, comprising construction industry experts, on how the SFCs catered to the construction industry’s best practices and the amendments made to best suit its users.

Additionally, the experts explained the relationship between the SFCs and alternative dispute resolution mechanisms in fostering an environment of dispute avoidance.

The Roadshow pointed out the key features of the AIAC 2019 SFCs. One of them is the introduction of the Contract Administrator role to enable Architects, Quantity Surveyors, Engineers and other construction stakeholders to go onboard building projects and broadening the scope of their roles.

The AIAC 2019 SFCs are also a unified single contract, without the distinction between with or without quantities, which allows for more efficiency and for the parties to customise the contract to their specific needs. — BERNAMA

Source: Bernama