Relevant Events and Compensation Events – A Comparison

For those of us who are used to JCT terminology it is not always easy to make the translation from JCT to NEC contracts. One of the most important mechanisms in both contracts is dealing with change and extension of time. The JCT 2005 suite of contracts deals with the effects of change on time and money by reference to relevant events and relevant matters, whereas the NEC contracts refer to compensation events.