INTERIM RELIEFS IN THE AGE OF SMART CONTRACTS TECHNOLOGY

Abstract

Contractual behaviour of the parties in construction contracts is fundamentally influenced by the availability and effectiveness of the remedies which might be obtained during the contract in court or by arbitral proceedings to ensure the proper and timely performance of the contractual obligations. In particular, the interim reliefs can play an important role in preventing and correcting any possibly abusive behaviour of the parties, as well as in maintaining throughout the contracts of the contractual balance established by the parties at the outset of the construction contracts. The paper analyses the interim reliefs currently used in construction contracts in Romania, the relation between the contractual behaviour of the parties and the length of interim reliefs proceedings, and how the interim reliefs might look in the near future, in the age of smart contracts technology.

Keywords

• construction contracts
• interim reliefs
• first demand guarantees
• smart contracts technology
• online dispute resolution (odr)