When the main item on the BoQ is remeasured at the end of the job, and it is found to significantly reduce the value of the project (in our case by 40 - 50 percent ) can a compensation event be made ?
We are a dredging company and have got halfway through the job to find that only half the amount of mud in the harbour exists and as we are on an m3 rate for removing the mud, the total quantity has been massively reduced .
Our biggest issue is that the mud is not as deep as was expected in the target depths referred to in the contract data and drawings .
As the project is drawn massively short we shall lose out on other work that we could not tender on and now there is a great shortage of work in our area.