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Overview of Compensation Events Under the NEC4 TSC

Overview of Compensation Events Under the NEC4 TSC

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This course will give you an overview of the compensation event procedure in the TSC. We’ll look at what a compensation event is and the process for managing them to ensure they’re resolved in a timely way.

By the end of this course, you should be able to:

  1. Better understand what, in concept, a compensation event is and the fundamental differences between a compensation event under NEC4 and contract changes/variations under other forms of contract.
  2. Know and therefore be able to find the definitions of the core compensation events.
  3. Have an understanding of the basic stages involved from notification to implementation of a compensation event.