NEC Compensation Events: The Users’ View RealNEC
The South East regional committee invite you to this free CPD event. This event will focus on the key survey findings, highlighting the challenges users’ face in relation to the pricing of risk and disruption in compensation event assessments.
The session will also cover time-bar in clause 61.3, discussing the impact of failing to address and improve use of the contract such as financial loss. GVE’s speakers will highlight the importance of improving user knowledge and understanding of the process when pricing and assessing compensation events in order to effectively manage the contract, as well as offering guidance from a user and practitioner perspective. They will also discuss the impact on the construction industry as a whole and why this issue is pertinent to commercial success.
GVE Commercial Solutions conducted a survey¹ amongst NEC users to determine how the compensation event procedure works in practice. As users and practitioners of the NEC suite of contracts, the purpose of the survey was to seek the views of everyday users with the aim of sharing and improving knowledge and understanding for the benefit of all. The results of the survey overwhelmingly show that respondents were most concerned about the pricing of risk and disruption within quotations and about the effects of time barring. In fact, in relation to risk, almost all of those surveyed (98%) agreed that “more discussion on risk pricing is required by the parties prior to assessing compensation event quotations”.
Speaker(s): Paul Edwards - GVE Director : Steve Goodwin - GVE Director : Shy Jackson - Partner, Pinsent Masons
Venue: Pinsent Masons LLP
Sorry, booking for this event is now closed
Booking closed at 7:00pm, 13th March
The £10 charge is a refundable deposit to those who attend the event
For additional event information, please contact the following people:
|0161 972 3100|