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Michael Bennett
Options A and B under NEC4 ECS
Options A and B under NEC4 ECS
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We now move on to how works are priced and valued. The method is chosen by the selection of the main option. There are 5 main options to chose from, denoted A through E. Each of the main options add to and/or vary the basic conditions of contract in order to bring about the type of pricing that is intended.
In this course, we will look at Main Options A (lump sum) and B (re-measurement). These are known as “Priced Subcontract” within NEC4 terminology, with one using an activity schedule and the other a bill of quantities.
After completing this course, you should:
- Understand the types of contract formed by options A and B
- Know how the valuation process works for these two options
- Be able to explain how compensation events are assessed for these options and the additional compensation events for option B