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Engineering and Construction Contract - CIOB

Engineering and Construction Contract Blake Newport Associates Ltd. 2007 Engineering and Construction Contract NEC3 Engineering and Construction Contract Simon McGrail Head of Construction and Dispute Resolution, South Engineering and Construction Contract OBJECTIVES Understand rationale of NEC3; Ethos and Practical Use Focus on the commercial importance and application of Contract Data, Priced Activity Schedules and Assessing Compensation Events Engineering and Construction Contract AGENDA Introduction and Philosophy of NEC3 Overview of NEC Standard Clauses and Structure Cost Components and Fees Activity Schedule Compensation Events Engineering and Construction Contract Philosophy Flexibility - primary options give choice of pricing mechanism (lump sum to cost plus) - secondary options allow specific employer policies to be addressed Clarity - conditions expressed more simply and clearly.

Construction Contract Compensation Events • Assessment of compensation events comprises the forecast change in cost and delay to completion. • Both are assessed on the basis of the supplier’s current intentions as shown on an updated programme and not …

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