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NEC3 ECC: Can a Contractor increase terminal float allowance post contract?

+1 vote
496 views
Revised programme submitted following a Compensation Event included increase in Terminal Float allowance (from 3 - 5weeks)
asked May 15, 2015 in NEC3 Time by anonymous   1 4
   

1 Answer

+2 votes
I have to confess I do not fully understand the question but may be saying what terminal float is will help.

The difference between planned Completion and Completion Date is what is know as "terminal float" and it is owned by the Contractor. If at the start of the project the Contractor is planning to finish three weeks ahead of the Completion Date then they do indeed have three weeks terminal float. If a revised programme shows that planned Completion has moved forward by a further two weeks then they have five weeks terminal float. If they then delay themselves by four weeks planned moves back out by four weeks and in each case Completion Date has not moved as it is all down to the Contractor that planned Completion. If however there is a compensation event that then affects planned Completion Date by one week, Completion Date moves as well, as the terminal float is owned by the Contractor and is not to be absorbed by compensation events.
answered May 15, 2015 by Glenn Hide (33,040 points)