compensation event proceduresremediescontractsIntroductionChanges in NEC 3 (from ECC 2)Outline of proceduresDefi ning a compensation eventCompensation events as exclusive remediesFairness of the compensation event proceduresUnusual features of the compensation event procedures...
Having thoroughly explained the compensation event process, Mr Waterhouse's book then moves on to explain the role played by defined cost in both the priced and cost reimbursable versions of the ECC. Defined cost is used in the ECC to establish either, the amount to be paid in respect of ...
Change is dealt with by a fast and fair compensation event process which, together with a continually updated and agreed programme, ensures there are no surprises at the end of the contract. Projects that have used this contract 2018-2028 ...
If there are changes to the amount of work the supplier has to do, there are clearly defined processes to handle changes in costs and time called ‘compensation events’. The contracts also provide a clear and precise process for evaluating the cost and time implications of compensation events,...
In the process, we will drive NEC's transformation into a social value innovator. From a sustainable development perspective, NEC became a signatory to the United Nations Global Compact (UNGC) in 2005. Accordingly, NEC will continue to strive to conduct corporate business activities in compliance ...
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In no event shall NEC APAC be liable for any direct, indirect, punitive, incidental, special, consequential damages or any damages whatsoever including, without limitation, damages for loss of use, data, business interruption, loss of programmes or profits or damage to your computer system, arisin...
It is commonplace that the contractor does not forecast those impacts of a Compensation Event correctly. For example, I have witnessed the following scenario multiple times: contractor’s CE001 = 10 days delay forecast[9]. CE002 = 5 days delay forecast. CE003 = 20 days delay forecast. The...
NEC4: Defined Costs and Compensation Events Patrick Waterhouse's new book is a welcome addition to my shelf in the office dedicated to all things NEC. The book takes the reader through the compensation event process set out in section 6 of the Engineering and Construction Contract... S Smyli...
Lost income or diminished earning capacity: A parent who could not work due to providing care for their child could be compensated for lost income. If a child has a disability due to NEC and their parents cannot work while caring for them, compensation for lost future earnings may be request...