Herbert Smith Freehills' Tokyo office has written an article on the recent case of Network Rail Infrastructure Limited v ABC Electrification [2019] EWHC 1769 (TCC) in which the English Courts adopted the natural meaning of ‘default’ in the definition of ‘Disallowed Costs’ in a contract modelled on the ICE Conditions of Contract, Target Cost version. This strict interpretation was adopted despite the impact this had on the parties’ respective liability for cost overruns in a contract that is, otherwise, broadly intended to provide for shared pain/gain.
Click here to view the article in full.
Key contacts
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.