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:
- 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.
- Know and therefore be able to find the definitions of the core compensation events.
- Have an understanding of the basic stages involved from notification to implementation of a compensation event.