What are the elements of FIDIC Red Book? Why is it considered during the contracting stage?

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Accepted Answer

FIDIC Red Book is a standard form of contract used in construction projects worldwide.

The FIDIC Red Book includes general and particular conditions of contract, as well as guidance for the preparation of tender documents and contract administration.
It is considered during the contracting stage because it provides a fair and balanced framework for the rights and obligations of both parties, and helps to minimize disputes.
The Red Book is particularly useful for international projects, as it is recognized and accepted in many countries.
It covers various aspects of the construction project, including design, procurement, construction, testing, commissioning, and handover.
The Red Book also includes provisions for dispute resolution, including arbitration and adjudication.

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