The International Information Center for Structural Engineers

Items filtered by date: Wednesday, 16 July 2014

The first of several claims related to the Panama Canal’s $1.6 billion in cost overruns will begin arbitration in Miami next week. The first dispute to be heard by the arbitration court will be a $180 million claim over the cost of draining an area to create work space near the Pacific locks of the 50-mile (80-km) long canal. The project’s contract states that if a disagreement between two parties arises during any part of the project, the two sides must first analyze the other side’s claim and then head to an adjudication board. In the event that these two measures cannot bring an agreed upon solution, the dispute would then head to arbitration.