{"product_id":"an-overview-of-payment-and-valuation-under-nec4-ecs","title":"An Overview of Payment and Valuation under NEC4 ECS","description":"\u003cp data-pm-slice=\"1 1 []\"\u003ePayment timescales and assessments are dealt with in clause 5 of the NEC4 ECS form. However, due to the nature of the NEC4 forms being:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eInternational in nature; and\u003c\/li\u003e\n\u003cli\u003eAble to convert into various types of payment (lump sum, target cost, reimbursable);\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eNot all of the payment clauses are kept together. Therefore, when considering the payment regime, it is necessary to consider:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCore clause 5\u003c\/li\u003e\n\u003cli\u003eThe main option chosen (A through E)\u003c\/li\u003e\n\u003cli\u003eIf in the UK, clause Y(UK)2\u003c\/li\u003e\n\u003cli\u003eIf there is a project bank account, clause Y(UK)1\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eThis can make reading the payment provisions complicated and amending them even worse. \u003cbr class=\"break-when-trailing\"\u003e\u003c\/p\u003e\n\u003cp\u003eIn this course, we will look at three parts of this puzzle, being core clause 5 and clauses Y(UK)1 and Y(UK)2. \u003c\/p\u003e","brand":"Michael Bennett","offers":[{"title":"Default Title","offer_id":55438655881597,"sku":null,"price":60.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0248\/4926\/files\/Courses_765e73d5-f6a1-4700-9a09-9cbf3bc585f3.png?v=1767869792","url":"https:\/\/store.builtintelligence.com\/products\/an-overview-of-payment-and-valuation-under-nec4-ecs","provider":"Built Intelligence","version":"1.0","type":"link"}