NEC3 & 4 - What Is A Compensation Event?

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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

#Construction #NEC #QuantitySurveying

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Another important function of risk assessments.

andreashofmeyr
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So how would the contractors loss been avoided in this example?

svlagonda
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Omg it's absolutely right how did it know 😅😅😅😊😊😊

nejendary