DocumentCode
1643800
Title
Notice of Retraction
Risk analysis and avoidance related with price adjustment formula: Based on FIDIC contract
Author
Yu, Dandan ; Yuan, Yongbo ; Zhang, Mingyuan ; Shuang, Qing
Author_Institution
Faculty of Infrastructure Engineering, Dalian University of Technology, Dalian, China
fYear
2011
Firstpage
1
Lastpage
4
Abstract
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
As the post-financial-crisis era comes, the construction enterprises of China are facing more risks in the international engineering contracting market. Thus, how to make full use of the price adjustment formula in the FIDIC contract is studied. The formula was decomposed into six factors, which were the fixed coefficient, price adjustment items, price index, weighting coefficient of adjustment items, base price and exchange rate. The selection of the values of each factor was studied; risks related with each key factor were analyzed, then suggestions about the risk avoidance strategy were given out, respectively. Consequently, the contractors are able to reduce the loss caused by price risks, and to increase economic efficiency.
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
As the post-financial-crisis era comes, the construction enterprises of China are facing more risks in the international engineering contracting market. Thus, how to make full use of the price adjustment formula in the FIDIC contract is studied. The formula was decomposed into six factors, which were the fixed coefficient, price adjustment items, price index, weighting coefficient of adjustment items, base price and exchange rate. The selection of the values of each factor was studied; risks related with each key factor were analyzed, then suggestions about the risk avoidance strategy were given out, respectively. Consequently, the contractors are able to reduce the loss caused by price risks, and to increase economic efficiency.
Keywords
Contracts; Exchange rates; Fluctuations; Indexes; Materials; Steel; FIDIC; price adjustment formula; risk analysis;
fLanguage
English
Publisher
ieee
Conference_Titel
E -Business and E -Government (ICEE), 2011 International Conference on
Conference_Location
Shanghai, China
Print_ISBN
978-1-4244-8691-5
Type
conf
DOI
10.1109/ICEBEG.2011.5882006
Filename
5882006
Link To Document