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We break down how to assess compensation events on price under NEC, focusing on the dividing date, defined cost, and the difference between assessment by agreement and assessment by default. Two worked examples show why you must compare cost with and without the change, not tender prices against new costs.

• definition and purpose of compensation events under NEC
• the dividing date and why it stays fixed
• when assessments are retrospective versus prospective
• using clause 63.2 by agreement for small, similar changes
• default clause 63.1: defined cost with and without the change
• worked example: deletion and abortive costs explained
• worked example: design change and preserving tender position
• implementing updates in activity schedules or bills
• common pitfalls and how to avoid them
• handling time and money together with the accepted programme

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We unpack how to assess the time element of NEC compensation events, why the dividing date matters, and how to preserve terminal float. We share a three-step method to progress, model impact, and produce clear quotations without relying on end‑of‑project prolongation claims.

• defining compensation events and the rights to change dates and prices
• why quotations must show alterations to the accepted programme
• prospective versus retrospective assessment tied to the dividing date
• preserving terminal float and extending time only one way
• three-step method: progress, reschedule, impact the CE
• showing time risk allowance and principal resources
• using assumptions when uncertainty is too high
• pitfalls: old programmes, hidden float, missing planned key date conditions
• sequencing multiple CEs and aligning on method
• resources to deepen practice and prepare for the prices session

Join us on 1 December at 16:30 for Assessing Compensation Events Part Two: Prices

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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/