FIS has produced guidance to support members in identifying and responding to onerous contractual terms. Prepared for specialist contractors, it is a summary of the typical risks and industry recommended compromises to look out and negotiate when engaging in a contract with clients or main contractors.
The guidance supports the FIS Responsible No Campaign, which is a targeted approach from FIS to challenge negative behaviours and empower the supply chain to challenge situations where the transfer of risk through contract is not reasonably apportioned or clear.
Whilst FIS continues to recommend members use and work on unamended contracts (rationale set down in our guidance published last week – Using Standard Form Contracts). However, the Responsible No Campaign approach recognises that we have some way to go and attempts to bring more standardisation where amendments are inevitable based on industry compromise position recommended by a relevant authority. This is what this document helps our members do.
FIS Contractual and Legal Toolkit
FIS is continually updating its Contractual and Legal Toolkit to support members in identifying and apportioning risk. Part of this Toolkit is a subsidised Contract Review service. You can find more information on how to access the service here.