FIDIC 2017 · FIDIC 1.1.1
Accepted Contract Amount
The price the Letter of Acceptance accepts. Caps such as the maximum Delay Damages are often set as a percentage of it.
“the amount accepted in the Letter of Acceptance” (FIDIC 1.1.1)
On the Aldermere project
Aldermere's Accepted Contract Amount is GBP 8,400,000.
Where you meet it
- Module 9: Subcontracting and securityNEC4 vs FIDIC 2017
- Module 11: Risk, liability and insuranceNEC4 vs FIDIC 2017