NEC Option C: Target contract with activity schedule
NEC was first published in 1993 as the New Engineering Contract. It is a suite of construction contracts intended to promote partnering and collaboration between the contractor and client.
The Engineering and Construction Contract (ECC) is the most frequently used, and can be adopted on projects such as infrastructure, buildings, highways and process plants. It is used for the appointment of a contractor for engineering and construction work, including any level of design responsibility.
Option C is a cost plus contract which is subject to a pain/gain share mechanism by reference to an agreed target cost built up from an activity schedule. It includes core and secondary option clauses, the schedules of cost components, and contract data
A target cost contract introduces a mechanism enabling the contractor, and/or the consultant team, to share in the benefits of cost savings, but also to bear some of the cost when there are cost overruns.
[edit] Related articles on Designing Buildings Wiki
- Activity schedule.
- Conditions of contract.
- Construction contract.
- Contract documents.
- Contractor's working schedule.
- NEC Option A: Priced contract with activity schedule.
- NEC Option B: Priced contract with bill of quantities.
- NEC Option D: Target contract with bill of quantities.
- NEC Option E: Cost reimbursable contract.
- NEC Option F: Management contract.
- NEC3.
- Right to payment.
- Target contract.
- Target cost.
- Term contract.
Featured articles and news
Incorporating EDI into the provision of fair access.
Government announces global innovation strategy.
An architectural biography. Book review.
Restoring Orleans House Octagon
The house where the future king of France lived.
The teacher, architectural technologist and mum offers her insights.
Cable management materials shortage
Careful planning needed as supply chain issues continue.
The sensitive conversion of a neglected Cornwall structure.
Plan stresses local involvement in city, town and village development.
Carbon capture technology update
Environment Agency publishes BAT guidance.
C02nstruct Zero Performance Framework published
CLC guidance outlines carbon reduction priorities.
Bridge hopping highlights around the UK
Making the most of a staycation.
Organisation urges G20 to revisit wind energy.