Pinsent Masons appointed to draft new standard forms of building works contracts in Hong Kong
21 Aug 2024 | 11:53 pm |
Multinational law firm Pinsent Masons has been appointed by The Hong Kong Institute of Architects, Hong Kong Institute of Construction Managers and The Hong Kong Institute of Surveyors to assist with the drafting of a new generation of the standard forms of building works contracts for Hong Kong last updated in 2005/2006.
These standard forms of building works contracts are the most commonly used forms of contracts in the private sector in Hong Kong.
The project will see Pinsent Masons work closely with the three Institutes to prepare the draft standard forms, before the forms are opened to public and industry stakeholder consultation. The project is expected to take about 12 months to complete.
The Pinsent Masons team on the matter will be led by Hong Kong partner Bernard Ang with partners Hinson Cheung and Dr Dean Lewis, with legal director Isabelle Chan and associates Zita Chan and Jason Wong.
Appointment to this project continues Pinsent Masons’ involvement in drafting key industry contracts and regulations, including the Security of Payment provisions in the Y Clauses for Singapore’s NEC.
Commenting on the project, Bernard Ang said: ‘The goal of this project is to produce a world class, new standard form of contract that will not only update the current contract conditions but also take into account the significant developments in the Hong Kong market over the past decade. The new standard forms will also reflect best practices in order to achieve a fair and equitable allocation of risks.’
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