NEC4: Defined Cost and Compensation Events

Author(s): Patrick Waterhouse
ISBN: 9780727765604
Publication Date: 12 November 2021
Status: Forthcoming

£50.00
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Format:Paperback
Publication status: Forthcoming
Publisher:ICE Publishing
Page size:243 x 170mm
Number of pages:256

NEC4:Defined Cost and Compensation Eventsexplains how to manage compensation events, and the wider role that Defined Cost has within the NEC contract. The book shows how effectivemanagement of compensation events is central to the success of each…



Subjects: Contract lawDispute resolution and claimsProcurement and supply chains
Product code: 9780727765604

NEC4: Defined Cost and Compensation Events explains how to manage compensation events, and the wider role that Defined Cost has within the NEC contract. The book shows how effective management of compensation events is central to the success of each contract, and the important role of Defined Cost both in compensation events and also routine payment assessments.   

Focusing primarily on Defined Cost in the NEC4 Engineering and Construction Contract (ECC), the book provides stand-alone guidance for each of the six main options of the ECC, and also includes coverage of the Alliance Contract, DBO Contract, Professional Service Contracts, and the Term Service and Facilities Management Contracts. The assessment of time in compensation events, as it impacts upon the financial assessment is explained.  

NEC4: Defined Cost and Compensation Events is an ideal companion for all those working in construction contracts, from the initial preparation of the contract, to the procurement, award, execution and management of disputes. It is essential reading for engineers, project managers, quantity surveyors, architects, lawyers and claims consultants. 

Patrick Waterhouse CEng FICE FCIArb FCInstCES is a construction adjudicator, accredited mediator and contract consultant.  He is a recognised expert in the NEC forms of contract and has adjudicated numerous disputes under NEC contracts.  Patrick delivers training in all forms of contract and is an examiner for the ICE’s law & contract management examinations and for its adjudicator qualification examination.  

Preface

About the author

List of abbreviations

01. Introduction

02. What is the role of Defined Cost in NEC4 contracts?

03. What is a compensation event?

04. Compensation events 60.1(1) – 60.1(10)

05. Compensation events 60.1(11) – 60.1(21)

06. Compensation events in the main and secondary Options

07. Notifying compensation events, producing quotations and proposed instructions

08. Assessing and implementing compensation events

09. Time assessments of compensation events

10. What is Defined Cost?

11. Defined Cost and assessing compensation events in main Option A and Option B Contracts and the Short Schedule of Cost Components

12. Defined Cost in Main Option C, D and E contracts; Disallowed Cost and the Schedule of Cost Components

13. Main Option C, D and E contracts: assessment of Price for Work Done to Date and assessment of compensation events

14. Option F contracts: Defined Cost; Disallowed Cost; assessment of Price for Work Done to Date, and assessment of compensation events

15. Final assessments

16. Other NEC contracts

17. The effect of Z Clauses

18. Disputes concerning Defined Cost and compensation events

19. Defined Cost in termination