NEC4: Engineering and Construction Contract Option B: priced contract with bill of quantities
The NEC4 Engineering and Construction Contract (ECC) Option B is the priced main works contract with a bill of quantities. It can include any level of design, and is ideal for relatively straightforward projects where the client has a fixed budget and is confident of its contractor’s willingness and ability to manage financial risk.
The contractor prices the exact quantities specified in the client’s bill of quantities and the client makes interim payments based on the quantity of work done at each assessment date. The contractor largely bears the financial risk of carrying out the work at the agreed prices and prices the contract accordingly.
The document contains everything you need to prepare, tender and manage an NEC4 ECC Option B contract, including all relevant secondary options and forms for the cost schedule and contract data.
The NEC4 ECC is the main works contract in the NEC4 suite of collaborative, flexible and clearly written contracts for built environment procurement. It has a global track record for delivering all kinds and sizes of building and infrastructure projects on time, on budget and to the highest environmental and quality standards.
As with all NEC4 contracts, the parties are required to act in a ‘spirit of mutual trust and co-operation’ and give early warnings of anything that could affect time, cost or quality so it can be mitigated without delay. Change is dealt with by a fast and fair compensation event process which, together with a continually updated and agreed programme, ensures there are no surprises at completion.