Since the Latham and Egan reports the NEC contract suite has gone from strength to strength. Now in its 4th edition it is a global player in the construction industry, not just in the public sector but also now widely used by the private sector to deliver a wide variety of schemes.
Having delivered a number of schemes in various contract forms, it is evident why the NEC contract suite is becoming ever more popular. Promoting a collaborative approach, clearly identifying risks and stipulating timescales to ensure matters are dealt with in a timely manner. It most definitely lends itself to a modern, clean cut contract administration process.
Clearly identifying risks and strict timescales in notifying events embedded in an un-amended contract also enable better management of clients. This includes allowing risks to be opened and more importantly closed, offering financial security to clients and not a last ditch bun fight at completion.
No other contract has had such a transformative effect on the construction industry, putting the collaboration sharing of risk and reward at the heart of modern procurement. It has revolutionised the purchasing and delivery of works, services and supply over the last two decades and looks set to continue.