New arbitration procedures published by IChemE
23rd September 2019
The Institution of Chemical Engineers (IChemE) has published a new edition of its Arbitration Rules to accompany its highly acclaimed suite of model contracts today (23 September).
The Pink Book offers the latest in arbitration practice and standards for anyone managing an engineering project contract, or for arbitrators engaged in resolving disputes.
Suitable for international and UK use, The Pink Book can be used in conjunction with IChemE’s Forms of Contract and provides a clear and balanced framework where each party can understand its responsibilities in the event of a dispute arising. It can be used for tribunals involving three arbitrators, as well as for a sole arbitrator situation.
For more than 45 years, IChemE has partnered with experienced industry and legal professionals to publish its acclaimed UK and international Forms of Contract, which set the standard for good practice.
IChemE Fellow Paul Buckingham, Chair of IChemE’s Disputes Resolution Committee, said:
“Contract disputes cost money, take valuable time to resolve and can damage good relations. IChemE’s Forms of Contract are drafted to reduce the likelihood of this happening but, should a dispute arise that cannot be resolved by agreement, the Forms also provide formal dispute resolution procedures as a way of effectively resolving any differences.
“This new edition of the Pink Book is the first update to IChemE's highly successful Arbitration Rules since 2005 and brings it in line with other recently updated IChemE Rules, so that it reflects current arbitration practice.”
IChemE’s Forms of Contract are widely used both in traditional chemical engineering projects, as well as in more mainstream construction work. Each contract contains a model form of agreement and general conditions, supplemented with detailed guidance notes to assist the user in preparing a contract.
The Pink Book is available in paperback, printable PDF, and view-only PDF formats at www.icheme.org/foc
Links
Arbitration Rules, The Pink Book, Fifth edition, 2019
Contact
For more information please contact:
Rachael Fraser, Communications Executive, IChemE
t: +44 (0) 1788 534435
e: rfraser@icheme.org
Ketna Mistry, Communications Executive, IChemE
t: +44 (0) 1788 534484
e: kmistry@icheme.org
What is chemical engineering?
Chemical, biochemical and process engineering is the application of science, maths and economics in the process of turning raw materials into everyday, and more specialist, products. Professional chemical engineers design, construct and manage process operations all over the world. Oil and gas, pharmaceuticals, food and drink, synthetic fibres and clean drinking water are just some of the products where chemical engineering plays a central role.
IChemE
The Institution of Chemical Engineers (IChemE) advances chemical engineering's contribution worldwide for the benefit of society. We support the development of chemical engineering professionals and provide connections to a powerful network of around 37,000 members in 100 countries.
We support our members in applying their expertise and experience to make an influential contribution to solving major global challenges, and are the only organisation to award Chartered Chemical Engineer status and Professional Process Safety Engineer registration.
More information: www.icheme.org