Getting to Grips with Compensation Events Under ECS and How They Work with the SoCC
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This course introduces you to the compensation event process for managing change under the NEC3 Engineering and Construction Subcontract (ECS). This webinar provides an overview of the main provisions under section 6 of the ECS Contract. After completing this webinar, you'll understand the compensation process of ECS inside out.
After studying this course you will have a much clearer understanding of the intent of the specific contractual clauses and in practical terms begin to see how they should administer them for the benefit of all parties on a particular project.
You will learn
By the end of this course you will be able to:
- Explain what Compensation Events are
- Outline and follow the key steps in the Compensation Event Process (Notify, Quote and Assess)
- Explain the method of assessment
- Be aware of the sanctions for non-compliance