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What are compensation events?

+4 votes
427 views
asked Sep 14, 2012 in Compensation Events by anonymous   10 58 84
retagged Sep 15, 2012 by Admin

1 Answer

+2 votes
 
Best answer
They are events which affect Prices, the Completion Date or a Key Date and do not arise from the Contractor’s fault. Under other contract they would typically called claims, changes, variations, etc. These events entitle the Contractor to be compensated. A list of compensation events is in core Clause 60.1.

Other contracts would typically called them claims, changes, variations, etc.
answered Sep 15, 2012 by Admin (290 points)  
edited May 3, 2014 by Chris Corr