Aceris Law LLC is pleased to announce that it has successfully resolved another ICC arbitration for another well-deserving client, shortly after securing a USD 34.5 million arbitration award for a different client. The arbitration, which had it seat in London, was governed by the laws of Saudi Arabia and concerned construction works related to a […]
International Construction Arbitration in the Middle East
The construction industry is a leading economic sector in the Middle East, where a large number of infrastructure projects worth billions of dollars are commenced each year. Construction disputes are inevitable due to activity in the construction industry and arbitration is the preferred dispute resolution mechanism for such disputes, especially for foreign parties. Construction disputes […]
Overheads and Profit Claims in Construction Arbitration
Claims for lost overheads and profit are common in construction arbitrations involving delay and disruption. When the completion of the Works in question was caused by the Employer’s delay, Contractors often include a claim for lost contribution to head office overheads and the lost opportunity to earn profit (either on the project which is the […]
Bank Guarantees and Arbitration: Resisting a Wrongful Call?
Bank Guarantees are a common feature of international construction contracts. Bank Guarantees are typically used as a security for one party’s (usually the contractor’s) performance of its contractual obligations. Bank Guarantees frequently play a central role in construction disputes as well – either as an important aspect of background facts of the dispute or as […]
Dispute Boards and International Construction Arbitration
1. What Is a Dispute Board? Dispute boards[1] are often found in large construction projects[2] to assist parties in resolving or avoiding disputes and, ideally, preventing such disputes from escalating to international construction arbitration.[3] Dispute boards are purely a creature of contract. This means that normally there will be no supporting statute to regulate the […]