Middle East Construction Contracts: Effects of Inflation and Increase in the Costs Webinar

Overview

The webinar will discuss and explore:

1. Soaring material and freight costs over the Time of the Project would increase the Contractor’s and Employer’s risks. Cost increases may occur over an extended period following the project's completion.
2. Cost adjustment formulas will be the best solution for the parties to mitigate their risks. The session will explain the Fidic cost adjustment formula and offer a useful application for it.

Speaker

Ossama Reda Yassa Mina LM, FCIArb, MRICS, accredited Expert in MoJ, Qualified Arbitrator in DIAC(Arbitrator and Expert)- PMP, Bsc. Civil Engineer.

Ossama is an active member of RICS; a fellow in the CIArb; and accredited expert in UAE courts. Ossama is accredited Arbitrator in DIAC and expert in UAE courts. He has been appointed as co-arbitrator and expert in many arbitration and court cases, which have involved complicated issues such as delay analysis and the relevant quantum of damages. Ossama has more than 30 years of experience in the construction industry and has filled the role of Contracts and Commercial Manager for many international and multinational firms in the UAE and the Middle East. He provides professional consultancy services for many international and local firms in UAE and Egypt.

Learning outcomes

• Understand how cost adjustment formulas work
  
• Understand FIDIC formulas to navigate price fluctuations confidently
• Implement these tools in your construction contracts