NEC4 Compensation Events
One of the key advantages in using the NEC Engineering & Construction Contract (ECC) is the proactive way in which it manages changes through compensation events. Ironically, this is also the area users of the contract encounter the greatest difficulties.
This is an advanced course for experienced users of the contract who need to know :
- how the early warning and Accepted Programme processes feed into the compensation vent process;
- what is and I not a compensation event;
- the procedure and timescales for their assessment; and
- how changes to the contractual Completion Date and the Prices, including the often misunderstood Schedules of Cost Components, are assessed.
While this course will focus on the 4th edition of the ECC, most of the content will be just as relevant to those still working on the 3rd edition.
Whether you are a Client, a Contractor or a Consultant, this course will give you significant benefits in having the confidence to properly manage this critical aspect of the contract.
At the end of the course, participants will:
- Fully appreciate the principle of compensation events.
- Have an enhanced knowledge of how compensation events are assessed in terms of time & cost.
- Be fully confident in managing change under the contract.
Dr Jon Broome is a leading consultant and trainer on the NEC. He completed a PhD on its effective operation. His contributions to the 2nd and 3rd editions are acknowledged in the contract. He has had numerous articles and papers, as well as the top selling ‘User’s Guide’ book published on the contract.
Cancellations made within 10 working days of the course/seminar start date are subject to a 50% cancellation fee. Cancellations made within 5 working days are subject to a 100% cancellation fee. All cancellations must be notified to Construction Federation Services in writing. Email notifications are acceptable.
A telephone message is not sufficient as a notice to cancel. Delegate substitutions are welcome. If delegates do not attend a course/seminar without giving a notice of cancellation within the appropriate timeframe, no refund will be given.