What is variation clause, Price variation, value engineering, suspension as per FIDIC?

Question

Accepted Answer

Explanation of variation clause, price variation, value engineering, suspension as per FIDIC.

Variation clause allows for changes in the scope of work.
Price variation allows for adjustments in contract price due to changes in market conditions.
Value engineering is a process of optimizing the value of the project by reducing costs while maintaining quality.
Suspension allows for temporary cessation of work due to unforeseen circumstances.
FIDIC is a standard form of contract used in international construction projects.

Accepted Answer

Variations may be initiated by the Engineer under sub-clause 13.3 [Variation Procedure] at any time before the issue of the taking -over Certificate for the work

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What is variation clause, Price variation, value engineering, suspension as per FIDIC?

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