Authors : Islam Erniyazov

Volume/Issue : Volume 8 - 2023, Issue 9 - September

Google Scholar : https://bit.ly/3TmGbDi

Scribd : https://tinyurl.com/49b7ax4j

DOI : https://doi.org/10.5281/zenodo.8406401

Abstract : This paper provides a detailed analysis of legal and financial instruments used to secure timely and quality performance of obligations in complex cross- border road construction projects. It undertakes comparative review of regulations, arbitration decisions and industry data worldwide to examine the efficacy of prevalent frameworks like liquidated damages, bonds and insurance. Significant gaps are revealed in aspects of inflexibility, inadequate risk coverage and inconsistencies across borders. Accordingly, specific recommendations are presented encompassing refinement of current tools and integration of innovations like parametric insurance, project trusts, risk sharing contracts and sustainability- linked instruments tailored for equitable and resilient global road infrastructure development.

Keywords : Construction Contracts, Performance Security, Risk Management, Infrastructure Projects, International Development