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NEC4: Engineering and Construction Contract Option E: cost reimbursable contract

NEC4: Engineering and Construction Contract Option E: cost reimbursable contract

Details: Paperback.

List Price (RRP): £45.00 (No VAT Payable)Save £3.06 with our 6.8% online discountOur Online Price: £41.94

Publication date: 22/06/2017

Publisher: Thomas Telford

ISBN: 9780727763150

Publication Status: Active

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NEC4: Engineering and Construction Contract Option E: cost reimbursable contract

Option E is a cost reinbursable type contract where the financial risk is taken largely by the client.  This document contains all the core clauses and secondary option clauses the schedules of cost components, and contract data, relevant to an option E contract.
OGC endorsement of NEC3;
Construction Clients' Board endorsement of NEC3
The Construction Clients' Board (formerly Public Sector Clients' Forum) recommends that public sector organisations use the NEC3 contracts when procuring construction.
Standardising use of this comprehensive suite of contracts should help to deliver efficiencies across the public sector and promote behaviours in line with the principles of Achieving Excellence in Construction.

Core Clauses

  • 1 General
  • 2 The Contractor’s main responsibilities
  • 3 Time
  • 4 Quality management
  • 5 Payment
  • 6 Compensation events
  • 7 Title
  • 8 Liabilities and insurance
  • 9 Termination
 
Resolving and Avoiding Disputes
  • Option W1
  • Option W2
  • Option W3
 
Secondary Option Clauses
  • Option X2: Changes in the law
  • Option X4: Ultimate holding company guarantee
  • Option X5: Sectional Completion
  • Option X6: Bonus for early Completion
  • Option X7: Delay damages
  • Option X8: Undertakings to the Client or Others
  • Option X9: Transfer of rights
  • Option X10: Information modelling
  • Option X11: Termination by the Client
  • Option X12: Multiparty collaboration (not used with Option X20)
  • Option X13: Performance bond
  • Option X14: Advanced payment to the Contractor
  • Option X15: The Contractor’s design
  • Option X16: Retention
  • Option X17: Low performance damages
  • Option X18: Limitation of liability
  • Option X20: Key Performance Indicators (not used with Option X12)
  • Option X21: Whole life cost
  • Option X22: Early Contractor involvement
Options X1, X3 and X19 are not used
  • Option Y(UK)1: Project Bank Account
  • Option Y(UK)2: The Housing Grants, Construction and Regeneration Act 1996
  • Option Y(UK)3: The Contracts (Rights of Third Parties) Act 1999
  • Option Z: Additional conditions of contract
  • Schedule of Cost Components
  • Contract Data
  • Part one – Data provided by the Client
  • Part two – Data provided by the Contractor
  • Index

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