NEC3 Compensation Event Workshop or Training Session for NEC Contract Users
Why you should attend this workshop?
This one-day workshop introduces the compensation event process which is the mechanism within the NEC3 contracts for dealing with change. The compensation event process makes it clearer than other forms of contract in the first instance as to whose liability a particular issue is, before then establishing a clear systematic approach to ascertaining the cost and time effect of these events in a methodical and timely manner. The contract seeks to promote/achieve understanding of liability and associated entitlement of individual delays as they occur. This is contrary to the natural tendency of other contracts of saving such delays to the end of a project and trying to resolve entitlement when it is far too late and subjective to ascertain liability with any degree of certainty or fairness.
You will learn about:
- What is a compensation event
- The separate compensation event processes involved with each event i.e.
- Notification, quotation, assessment and implementation
- The difference and interaction between early warnings and compensation events
- The part that the Accepted Programme plays in assessing the time and cost associated with
- Each compensation event
- Identifying and preparing quotations for compensation events and how they should be subsequently assessed