risk-allocation

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Alberto Madero-Rincón (Universidad del Norte), Estefanía Contreras (Baker McKenzie) for Asociación Latinoamericana de Arbitraje (ALARB)

Reficar v. CB&I: A New Standard for Risk Allocation and Contractor’s Liability in Construction Contracts of Energy Infrastructure

September 14, 2023

On June 7, 2023, an ICC tribunal issued an award that will redefine risk allocation in the construction industry. The arbitration was initiated by Refinería de Cartagena S.A.S. ("Reficar"), a wholly…

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