From Notification to Quotation: Making NEC4 Compensation Events Work
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From Notification to Quotation: Making NEC4 Compensation Events Work
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We unpack how to notify NEC4 compensation events properly, when the PM or contractor must act, and how to use project manager assumptions to price uncertainty without padding. Clear steps, examples, and pitfalls help you move from awareness to implementation without losing entitlement.
• defining compensation events and where to find them in NEC4
• why time and cost are assessed together prospectively
• who notifies what: PM‑notified vs contractor‑notified events
• the eight‑week time bar and the 61.4 decision gate
• early warnings versus compensation event notifications
• instructing quotations, proposed instructions, and alt quotes
• project manager assumptions: obligation, range setting, corrections
• using Defined Cost plus Fee versus Prices by agreement
• practical checklist before instructing quotations
• what good looks like in notices, records, and timings
• common pitfalls and how to avoid them
• Q&A on X2, deemed acceptance, access, and adjudication
Join us next time, first Monday in November at 4:30 pm, when we explore how compensation events affect time under clause 63.5
View the webinar: https://www.gatherinsights.com/en/webinars
Join the LinkedIn Group: https://www.linkedin.com/groups/2893228/