Oireachtas Joint and Select Committees
Wednesday, 6 April 2022
Joint Oireachtas Committee on Transport, Tourism and Sport
Transport Infrastructure Ireland Projects and Related Issues: Discussion
Mr. Peter Walsh:
It is risk sharing. There are two aspects. One is that NEC and FIDIC are an international form of contract. Training is available to people in those contracts. There are guidance books and materials to help. These are complicated contracts. Where we have a well-established contract with suitable levels of training and materials to explain it available internationally then international firms know what they are getting involved in. They know what the risk is in engaging in that contract. I am surmising, but from what we can gather and the level of growing disinterest that international companies would appear to have in the Irish market, the appetite for the risk transfer within the Irish contract is diminishing and the level of understanding of that contract is obviously less. They cannot be looking at every jurisdiction in Europe. For those two reasons, I think it would be desirable to move to that.
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