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Spread across one day, the 2015 NEC UK workshops of 'ECC risk provisions' and ‘Managing ECC compensation events' provide guidance on managing risk and compensation events throughout the project life cycle.
With particular focus on the ECC, and when writing the tender documents, the drafter has a number of matters concerning risk to properly deal with. Once the ECC contract is in place the parties set about reducing, avoiding or managing risk, as best they can, but they still need to be aware of how the contract provides for risk.
Compensation events are the main way in which the Prices and Completion Date may be adjusted in the ECC. This session looks at determining the principle of whether something that arises is indeed a compensation event before looking at how each should be assessed.
Though the particular focus is on the NEC3 Engineering and Construction Contract (ECC), much of what is covered is just as relevant for most other NEC3 contracts.
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