NEC3 & 4 - What Is A Compensation Event?

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.uk/post/what-i...
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Пікірлер: 7

  • @svlagonda7417
    @svlagonda74178 ай бұрын

    Good explanation and video

  • @Metroun

    @Metroun

    7 ай бұрын

    Thank you. Glad you found it useful.

  • @andreashofmeyr9583
    @andreashofmeyr95833 жыл бұрын

    Another important function of risk assessments.

  • @Metroun

    @Metroun

    3 жыл бұрын

    Very good point!

  • @svlagonda7417
    @svlagonda74178 ай бұрын

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

  • @Metroun

    @Metroun

    7 ай бұрын

    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.