NEC3 & 4 - What Is A Compensation Event?
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- เผยแพร่เมื่อ 18 ส.ค. 2024
- If you’ve ever worked on an NEC3 or NEC4 Contract you would have heard the term Compensation Event (CE). Here we explain how the CE mechanism works, and why not knowing your contract could lead to you losing out on money.
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00:00 What is a Compensation Event?
00:29 Practical Example of a Compensation Event
02:35 How Metroun Can Help
If you require any guidance with Compensation Events or would just like to find out more, please contact us at support@metroun.co.uk
You can find out more information about Compensation Events on our blog post: www.metroun.co...
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Good explanation and video
Thank you. Glad you found it useful.
Another important function of risk assessments.
Very good point!
Omg it's absolutely right how did it know 😅😅😅😊😊😊
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So how would the contractors loss been avoided in this example?
They’ll need to make an allowance within their price. This would be done in conjunction with a risk assessment that details severity & mitigation measures.