This issue begins with an article with the intriguing title “What Lies Beneath” (page 394). The author, Julian Bailey of CMS Cameron McKenna LLP, London, does not use an interrogative since he writes about the allocation of risk for adverse site conditions, primarily ground conditions. His paper has four sections: a discussion of the general position in law where there is no contractual provision; the allocation of risk where there is contractual provision; the effect on risk allocation if information given by the owner turns out to be erroneous or misleading; and matters affecting the entitlement of the contractor, including the position if conditions are so extreme as possibly to vitiate the contract itself. The author’s discussion is not confined to English law as he considers decisions in the United States and decisions and laws in other countries. Mr Bailey’s conclusion is that the parties ought to set out the allocation of risk in the contract and to do so clearly since, if the position is unclear, the contractor will usually be taken to have assumed the risk. He also suggests that, before entering into the contract, whilst the parties might focus on the investigations which ought to be conducted and on disclosing information obtained (primarily by the owner but presumably also by the contractor), disclosure needs to be accompanied by effective disclaimers for otherwise a party might be held to warrant the information.