Icc Model Consortium Agreement

A new publication of the ICC`s model contract series has been published. This time, he is dedicated to a whole new subject: consortium agreements. The ICC model is up-to-date and offers more detailed methods than other existing agreements to avoid differences and overcome difficulties. It draws attention to areas where digital instruments can improve the effectiveness of stakeholder cooperation. Simple language has been used as far as possible to allow users with limited or non-legal context to have direct access. We asked Isabelle Smith Monnerville, co-chair of the working group, to present the new model and explain when it can be used. The model takes into account the willingness of all parties to a unanimous decision-making process, a clear distribution of participation and availability of resources, the need for timely and effective resolution of disputes, and the need for a full and informed distribution of risks. It contains a USB stick that contains the full text of the model and its attachments so you can simply tailor the contract to your particular case. If the parties do not have to enter into their own special contract, they can use the entire model designed to be balanced for both parties.

Consortium agreements are one of the legal formats used by companies to organise their cooperation with other companies. While the Latin word „consortium“ is widely used in practice, the simple English equivalent is „common operation.“ In recent years, joint operations and joint agreements have thrived in a difficult economic environment, and their number and economic value are equivalent to those of typical DM operations. There are many reasons for entering into consortium contracts. In a construction context, a driving force is the customer`s preference for a single point of responsibility. From their point of view, the common operators aim to share the risks and commitments of major projects and/or improve their chances in the tendering process by submitting a common offer. This model was developed by the ICC`s Committee on Trade Law and Practice, under the leadership of President Fabio Bortolotti (Italy). 16. Article 16: Disputes, disputes and arbitration parties that enter into an agreement naturally focus on the success they expect and may not have the time or means to anticipate difficulties and possible differences of opinion within cooperation.