In the present study, the concept of copula functions is used for the construction of multivariate models. Moreover,

an evaluation of the structural reliability approach is attempted with respect to the uncertainty owing to assumed

correlation coefficient values. Based on a probabilistic analysis of a particular construction system, the problem of

evaluating small failure probabilities is discussed in the light of the aforementioned uncertainty. An analysis of the

model regarding the involved parameters and their probabilistic expressions discloses that the assumed order of

magnitude of failure probability is associated with different demands on accuracy. This indicates that for very low

target failure probabilities, accurate dependence modeling, i.e. based on copula functions, becomes vital.