Construction World

If you are paid late you may well be unsure as to whether you should be paid interest on the outstanding money. This article looks at the options available to the “injured party”. We would be very interested to hear about your opinions on this - and maybe even get your true stories, if we are lucky! (more…)

No - the answer I am looking for is not that they all contain the letter “o”.  The conceptual marriage of the above came to me whilt having one eye on the film and one eye on the payment terms of these two Sub-Contract Standard Forms.

This occurred to me whilst watching the scene when young Master Twist is greeted by a bellowing denouncement of his request for MORE. That is just what a sub-contractor wants after Pracitcal Completion - MORE interim payments, MORE money and BETTER cash flow.    (more…)

The time has come to get down into some gritty detail. There are so many things to write about I was having trouble deciding where to start. However my mind was made up when I spent an enjoyable and productive afternoon with a group at one of our client’s offices taking them through the changes from NEC2. The group included an estimator who had a job to price on NEC3 (yes, an Employer/Project Manager has taken the plunge and used the form straight away and without Option Z). The estimator, who is experienced at pricing under NEC2, was interested in the changes to the Schedules of Cost Components and the definition of the Fee (clause 11.2(8)) so he could get the percentages right, and that gave me the starting point for considering the detail in the 3rd edition of the ECC.

I will start with the full schedule. (more…)