These developments have taken place extremely rapidly. They represent significant changes to the legal environment within which the international construction industry conducts its business but, to date, there has been little research on their impact. All these initiatives have inevitably led to a developing legal jurisprudence concerned with the validity of contract clauses or with providing statutor interpretation of the rules requiring or governing practice. This has important consequences for the construction industry because legal uncertainty increases the likelihood of dispute, which is not only costly for the disputants but can be damaging to national and global economies. --
