Overview of the NEC - Do the NEC and the Construction Act have common values?
TAGS: Adjudication, NEC, NEC3, NEC4, Payment
In this video, the panel discuss whether there was a joint thinking in the way that the construction act developed and the implementation of the NEC. Adjudication, Payment
Watch Video
NEC: Why aren't options B and D used much?
TAGS: Contract Strategy/Flexibility, NEC, NEC3, NEC4, Payment
There is a clear preference in the UK market for Options A and C : is there a contractual, legally, technical, or practical reason for that? Jon, Ian, Rob and Ewen discuss this and whether other alternatives are being missed?
Watch Video
Is there a Final Account mechanism under the NEC3 ?
TAGS: Administration, NEC, NEC3, Payment
When you get to the end of the contract, a key question is to tally up how much it has cost against how much it was planned to cost and reach a financial settlement. How does the NEC achieve this? Is this one area where it is process light compared to other contracts? Why might that be? Jon, Ian, Rob and Ewen discuss.
Watch Video
NEC: The Schedule of Cost Components is really complicated, why not just use rates?
TAGS: Administration, NEC, NEC3, NEC4, Payment
One of the innovative approaches of the original New Engineering Contract was to provide more definition around what amounts to recoverable “cost” under the contract in the form of the Schedule of Cost Components. Is it really worth the trouble though? Jon, Ian, Rob and Ewen discuss.
Watch Video
Does the payment mechanism under NEC work efficiently?
TAGS: Administration, NEC, NEC3, Payment
Most contracts assume the contractor will lead the payment application cycle with the certifier reviewing the application. Why is the NEC different in having the process led by the Project Manager ? And what actually happens in practice ? Jon, Ian, Ewen and Rob discuss.
Watch Video
Why do Options C, D and E let the Project Manager disallow costs?
TAGS: Administration, Contract Strategy/Flexibility, NEC, NEC3, NEC4, Payment
Disallowed Cost is a subject that makes almost everyone, no matter which side of the contract they sit on, slightly hot under the collar. The fab four discuss why ‘Disallowed Cost’ is needed as a provision, what happens when it is wrongly applied and practical steps to avoid people getting hot under the collar!
Watch Video
How do I recover my Subcontractors overheads?
TAGS: Administration, Contract Strategy/Flexibility, NEC, NEC3, NEC4, Payment
NEC allows recovery of Defined Cost plus Fee with each payment option having a slightly different approach to the calculations. So how do you make sure that those definitions tie up with the supply chains, so that no one is either under or over recovering ?
Watch Video