Webinar - NEC4 PSC Part 5: Getting to Grips with Compensation Events under NEC4 PSC and how they work with the SoCC
What’s it about?This one-hour webinar session introduces you to compensation event process for managing change under the NEC4 Professional Services Contract (PSC). This webinar provides an overview of the main provisions of under section 6 of the PSC Contract. After completing this webinar, you'll understand the compensation process of PSC inside out.
Attendees of this webinar 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 webinar 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