IChemE Lump Sum (Red Book), Reimbursable (Green Book) and Burgundy (target cost) Contracts
The Institution of Chemical Engineers (“IChemE”) publish two suites of contracts (contracts for use within the UK and for use overseas) which, like the FIDIC contracts, are referred to by the colour of the cover with which the contract is bound. The contracts are tailored to the design, construction and delivery of process plants and equipment and are very much “performance based”: Clause 3.4 imposes an obligation that the “plant as completed by the Contractor shall comply with the Contract and shall be in every respect fit for the purpose it was intended”.
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