NEC3 PSC Option E Budget Cost change, Compensation Event?

NEC3 and NEC4 Contracts Compensation Events
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Under NEC3 PSC Option E we have submitted a completed package order including CD Pt2 to the client including our fee proposal which sets out a budget cost to complete each activity required under the contract.

Where we go beyond the number of hours for each activity and hence over the budget, is this remeasurable or would a compensation event be required to recover the cost for exceeding the amount of hours previously stated?

Perhaps it could be an employers risk if included in the CD?

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2

An unamended PSC Main Option E is a Time based contract. Compensation events are there only for budgeting and monitoring purposes. The two key definitions are:

11.2 (16) The Price for Services Provided to Date is the Time Charge for the work
which has been completed
and
(19) The Prices are the Time Charge.