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The Silver Book (or 'Conditions of Contract for EPC/Turnkey Projects') has been described as an entirely new FIDIC form of contract for build-operate-transfer or 'turnkey' projects. Unlike the standard FIDIC forms, there is no separate contract administrator. Also, under this form a number of additional risks are allocated to a contractor, including the risk of unforeseen ground conditions. Since its introduction in 1999, the Silver Book has been promoted as suitable for use where private project financing is required. |
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