The Ultimate NEC Compensation Event Template

Compensation Event Template for submitting Quotations under the NEC form of contract.


This Compensation Event Template is designed to help you to prepare clear, detailed and NEC compliant Compensation Event Quotations.

The NEC form of contract. is now used on most of the major projects in the UK and Worldwide. In fact, some of the largest projects in the world such as Crossrail and Hinkley Point C use the contract form.

However, although NEC published the first version of the contract back in 1993 and has been widely used for decades, there are still many contractors that may be new to the NEC way of working. In contrast, instead of “variation” and “extension of time” the NEC replaces both with a single provision called the Compensation Event.

So, when one of the “triggers” set out in clause 60.1 occurs, one of the parties can notify a Compensation Event. Following this, once the CE is accepted by the Project Manager, the Contractor is instructed to submit a quotation in respect of the event. This includes both cost and time effects.

In respect of this, the contract’s exact wording is as follows:

(Clause 62.2) “Quotations for compensation events comprise proposed changes to the Prices and any delay to the Completion Date and Key Dates assessed by the Contractor”

From our perspective, we have been administering NEC contract for years. So we know all too well the importance of putting forward a complete Compensation Event Submission that is compliant with the contract. This helps to agree change swiftly and fairly.

compensation event template


Features

Perfect formatting every time!

This template is all ready formatted to PDF with one swift click.

See for yourself by downloading the PDF output from the template here.


Cost Impact Tab

Summarises your cost buildup into the categories of allowable costs set out in the Shorter Schedule of Cost Components.


Time Impact Tab

Under an NEC contract, we impact the event on the Accepted Programme, to demonstrate time impact on the Key Dates and Completion. You can then summarise the results of this excercise here.

compensation event template


Programme Tab

Typically, the contractor will develop the Compensation Event Quotation in advance of the works being carried out. In fact, the provisions of the contract encourage this. This tab allows you to set out a programme for the planned works.

compensation event template


Cost Buildup/ Pricing Tab

Allows you to quickly insert the appropriate rate from the Schedule of Cost Components in your contract.

So no more messing around searching through rate books!

compensation event template

compensation event template


Resource 

The contract requires that you evidence Defined Cost in instances where works have been carried out already.

This tab allows you to provide a detailed summary of your site records.

compensation event template


Risk Tab

In our experience, many contractors often overlook including additional risk allowances in their Compensation Events.

Clause 63.6. Assessment of the effect of a compensation event includes risk allowances for cost and time for matters which have a significant chance of occurring and are at the Contractor’s risk under this contract.

You can use this tab to include for risk allowances in your Compensation Event Quotation. So you can demonstrate clearly the rationale behind the calculations.

compensation event template


Designed for ease of use

The template is self-explanatory and easy to use, and for additional ease of use we have included a tab containing instructions and helpful tips.

We have highlighted the sections which require manual inputs.

The sheets are also pre-formatted optimised for converting to PDF or printing.

All templates are fully unlockable so you can customise them to suit your business.

 


Compensation Event Template for Excel

  • compensation event quotation

Available for instant download now!

Project Management Excel Templates Pack

Get 5 x construction project management excel templates for only $49.99 (£40 GBP)

Get a suit of 5 x templates suite of templates and save over 35%!

Contains 5 x multi-functional, easy to use project management excel templates:

Construction Schedule (Gantt chart)

  • gantt chart template

Progress Payment Pack

  • Progress Payment Form
  • Payment Schedule
  • progress payment template

Construction Budget Pack

  • Construction Budget
  • Profit and Loss Forecast
  • Cash Flow Forecast
  • Weekly Cost Tracker
  • construction budget template

Change Order Pack

  • Change Orders
  • Register of Changes
  • change order form

Daily Site Log Pack

  • Daily Construction Log
  • Weekly Payroll Hours
  • site allocation sheet daily log excel template 1

Designed for ease of use

The template is self-explanatory and easy to use, and for additional ease of use we have included a tab containing instructions and helpful tips. The sheets are also pre-formatted optimised for converting to PDF or printing.

All templates are fully unlockable so you can customise them to suit your business.

 

Available for instant download now!

Construction Schedule Template for Excel

Create Gantt chart style construction schedules easily and quickly.


Is this an alternative to buying a software package?

Unfortunately not!

The industry standard for creating project schedules is Primavera P6, and is regarded as the best software for construction planning.

However, you may notice that it comes with a very hefty price tag! Of course for major contractors this isn’t an issue, but smaller contractors will question whether their business would benefit from all the extra features.

So, this Excel template is not designed to compete with functionality of bespoke planning software, but it can give you the look, and basic functionality of a construction programme for a fraction of the cost of planning software. It is easy and quick to use, and should be more than enough for most contractors and self builders.

construction programme template excel

Create Gantt chart style construction schedules quickly and easily with our template.

 


Features

a) Automatic date calculation – Simply enter the task durations and give each one a predecessor (the task that needs to finish to allow that task to start) and the start and finish dates are calculated automatically!

b) Weekday / Weekend working – Set each task to either “weekdays”or “7 day” as required to accommodate projects that work of mix of both. The sheet automatically skips weekends in the task duration if you select “weekday”.

c) % complete – Insert your percentage complete of each task to colour the bar green to show % completion.

d) Delays – Option to show your delays. Simply mark the task as a delay and a red bar will be inserted.

e) Today – Shows today’s date with a red bar.

If you need any support… Here at webQS we have years of experience dealing with programme submissions, project tracking and delays. Click here to learn more / send us an enquiry.

construction programme template

Create a professional looking construction schedule quickly and easily. Simply input the task durations and predecessors, and the sheet calculates the start and finish dates.

 


Designed for ease of use

The template is self-explanatory and easy to use, and for additional ease of use we have included a tab containing instructions and helpful tips.

Sections which require manual inputs are highlighted.

The sheets are also pre-formatted optimised for converting to PDF or printing.

All templates are fully unlockable so you can customise them to suit your business.

 


Construction Schedule Template for Excel

  • gantt chart template

Available for instant download now!

 


Or… get ALL of our templates for only $49.99 (£40 GBP)

Buy our full suite of templates and save over 35%!

Contains 5 x multi-functional, easy to use templates:

Construction Schedule (Gantt chart)

Progress Payment Pack

  • Progress Payment Form
  • Payment Schedule

Construction Budget Pack

  • Construction Budget
  • Profit and Loss Forecast
  • Cash Flow Forecast
  • Weekly Cost Tracker

Change Order Pack

  • Change Order Form
  • Tracker/ Register

Daily Site Log Pack

  • Daily Construction Log
  • Weekly Payroll Hours
  • construction budget template
    CONSTRUCTION BUDGET TEMPLATE

 

Available for instant download now!

Construction Budget Excel Template / Cost Control Template

Construction budget template with smart features to stay in control of your project finances.


Simple cost breakdown sheet

We have designed our construction budget template to give you all the information required to manage a construction project, with minimal amount of complication and inputting of information.

Simply  build up your activity costs as usual into the sheet below, inputting the quantities against the calendar.

Then you can simply categorise each cost via. the drop down list. You can customise these categories for your project.

construction budget template

Build up your activities using the simple input sheet.

 


Cost summary

From your cost buildup, our template automatically produces a summary of your spend within each calendar  month.

There is also a line for “Application for Payment” which can be used to input predicted stage payments, so you can track your profit/loss movement throughout the project.

construction budget template

 


Cash flow

Select your payment terms against each cost category, and the template will automatically produce a cash flow summary to show you your cash levels.

This is very useful to see how much cash you will need in the bank to float the project, and when your cash flow will turn positive.

construction budget template

Monitor your cash flow to see exactly when payments will come in, and out, to see what financial commitment is required.

 


Weekly cost summary

A useful report that is automatically generated in case you need it.

This gives a weekly breakdown of costs which is ideal for implementing a cost check at the end of each week. Simply check your costs at the end of each week against this baseline.

construction budget template


Activity cost summary

construction budget template

Compare cost by activity against already agreed sums, or use to identify the source of cost movements.

 


Designed for ease of use

The template is self-explanatory and easy to use, and for additional ease of use we have included a tab containing instructions and helpful tips.

Sections which require manual inputs are highlighted.

The sheets are also pre-formatted optimised for converting to PDF or printing.

All templates are fully unlockable so you can customise them to suit your business.

 


Construction Budget Template for Excel

  • construction budget template

Available for instant download now!


Or… get ALL of our templates for only $49.99 (£40 GBP)

Buy our full suite of templates and save over 35%!

Contains 5 x multi-functional, easy to use templates:

Construction Schedule (Gantt chart)

Progress Payment Pack

  • Progress Payment Form
  • Payment Schedule

Construction Budget Pack

  • Construction Budget
  • Profit and Loss Forecast
  • Cash Flow Forecast
  • Weekly Cost Tracker

Change Order Pack

  • Change Order Form
  • Tracker/ Register

Daily Site Log Pack

  • Daily Construction Log
  • Weekly Payroll Hours
  • construction budget template
    CONSTRUCTION BUDGET TEMPLATE

 

Available for instant download now!


If you need any support…

Here at webQS we have years of experience dealing with financial reporting on projects. Click here to learn more / send us an enquiry.

Construction Daily Log Template for Excel

Keep accurate records of your project with our Construction Daily Log template pack.

 


Why do I need to keep a daily log?

Records are essential to any construction project, and will be crucial to agreeing changes, settling final accounts or in the case of a financial dispute. Our construction daily log template is perfect for keeping those records.

Also, having detailed evidence of hours spent on completing activities is likely to result in your changes claims getting agreed more promptly without debate over time spent, so this can have a positive impact on your cash flow too.

You can also use the information collected for monitoring the performance of subcontractors, employees or checking that your productivity assumptions in your estimating are accurate.

 

site timesheet daily log free excel template

Records are absolutely crucial in agreeing changes, resolving financial disputes and settling final accounts.

 


What do I need to record in my Construction Daily Log template?

Activities – You should record time spent on each activity. for assessing the productivity of completed works in a delay dispute.

Weather – Does you contract allow you to claim loss and expense or extension of time for bad weather? If so, a record of the weather each day and it’s impact on the works is critical to proving your entitlement.

Variations – Again, using your sheets to evidence claims for changes can prevent any dispute over the impact on the project when you come to agree the costs with the client.

When you are managing a busy site it’s easy to put record keeping on the back burner, but it’s essential! You may not see the benefit to your day job, but believe me, you will be glad that you made the effort if the project ends up in a dispute over delay… Records win claims!

For more advice on this we recommend that you consult with a professional… Here at webQS we have years of experience dealing with change management in construction and with all standard forms of building contract. Click here to learn more / send us an enquiry.

site allocation sheet daily log excel template 2

As you fill in your daily log, our template automatically produces a summary of the hours for each operative. Very useful for payroll and budget tracking!

 


Features of the template

Complete 3 forms in 1 – Produce a cover letter and cost build-up and summary/tracker sheet.

a) All basic info entered one time which auto-populates all the log templates for the week.

b) Automatically produces a summary of the weekly hours spent on contracted activities, variations and absences. Ideal for cost tracking or running your payroll.

c) Add your workforce to the operative list, and select from dropdown list to save copying and pasting names and trades.

 


Designed for ease of use

The template is self-explanatory and easy to use, and for additional ease of use we have included a tab containing instructions and helpful tips.

Sections which require manual inputs are highlighted.

The sheets are also pre-formatted optimised for converting to PDF or printing.

All templates are fully unlockable so you can customise them to suit your business.

 


Change Order Form / Change Log Excel Template

  • site allocation sheet daily log excel template 1

Available for instant download now!

 


Or… get ALL of our templates for only $49.99 (£40 GBP)

Buy our full suite of templates and save over 35%!

Contains 5 x multi-functional, easy to use templates:

Construction Schedule (Gantt chart)

Progress Payment Pack

  • Progress Payment Form
  • Payment Schedule

Construction Budget Pack

  • Construction Budget
  • Profit and Loss Forecast
  • Cash Flow Forecast
  • Weekly Cost Tracker

Change Order Pack

  • Change Order Form
  • Tracker/ Register

Daily Site Log Pack

  • Daily Construction Log
  • Weekly Payroll Hours
  • construction budget template
    CONSTRUCTION BUDGET TEMPLATE

 

Available for instant download now!

Change Order Form / Change Log Excel Template

Evaluate your changes, communicate them to your clients and track progress with our Change Order Form / Change Log Excel template pack.

Changes can often mount up on construction projects. And failing to communicate them effectively, and in a timely manner, can result in payment delays and disagreements.

Not only does it have a negative impact on contractors, it’s also bad for your clients too. It is better that they are aware of changes as works proceed so they have time to incorporate them into their budgeting… nobody likes to get to the end of a project to then learn about the costs going up.

The answer? Implement a good change control process! Identify, evaluate and notify them as soon as possible.

This template will help you to submit your changes in a clear and concise manner, and help you proactively track the status of outstanding changes. Also, it’s smart features are designed to save time wasting and reduce the chance of human errors.

 

change order register

Changes can often come thick and fast on construction projects… It is crucial to maintain a register to keep track… Our sheet does this for you automatically!

 


How do I implement a change control process?

The exact change procedures that will apply to your project will depend on your contract. A building contract should contain detailed requirements on what events entitle the contractor to a change, and the timescales imposed on both parties for notification and agreement. It is absolutely crucial that you get an understanding of this before submitting your tender.

The two main change categories that you will effect the finances of your project are:

a) Loss and Expense – Events beyond your control which cause you to expend additional cost, or to make losses.

b) Extension of Time – Events beyond your control that cause delay to completion or meeting a milestone date.

The way that these are dealt with very much depends on the contract. For example, the JCT family of contracts, time and cost events are dealt with separately, whereas in NEC, a triggering event could have cost or time impact, or both.

For more advice on this we recommend that you consult with a professional… Here at webQS we have years of experience dealing with change management in construction and with all standard forms of building contract. Click here to learn more / send us an enquiry.

You can read more about change control procedures here:

The RICS (Royal Institution of Chartered Surveyors) issues a standard on Valuing Change: Click Here

change order form

Clear communication of changes to your clients is crucial in reaching agreement promptly.

 


Features of the template

Complete 3 forms in 1 – Produce a cover letter and cost build-up and summary/tracker sheet.

a) Fill in the project information one time – (address, contact details, project details), which pre-populates the cover letters and cost buildup sheets.

b) Rate Database – Create a list of your rates which can be selected from drop-downs on the change form, automatically adding the appropriate rate. No more searching for a rate every time you create a new change price.

c) Cover Letter – Creates a cover letter within Excel, pre-filled to save you repetitive copying of information.

 


Designed for ease of use

The template is self-explanatory and easy to use, and for additional ease of use we have included a tab containing instructions and helpful tips.

Sections which require manual inputs are highlighted.

The sheets are also pre-formatted optimised for converting to PDF or printing.

All templates are fully unlockable so you can customise them to suit your business.

 


Change Order Form / Change Log Excel Template

  • change order form

Available for instant download now!

 


Or… get ALL of our templates for only $49.99 (£40 GBP)

Buy our full suite of templates and save over 35%!

Contains 5 x multi-functional, easy to use templates:

Construction Schedule (Gantt chart)

Progress Payment Pack

  • Progress Payment Form
  • Payment Schedule

Construction Budget Pack

  • Construction Budget
  • Profit and Loss Forecast
  • Cash Flow Forecast
  • Weekly Cost Tracker

Change Order Pack

  • Change Order Form
  • Tracker/ Register

Daily Site Log Pack

  • Daily Construction Log
  • Weekly Payroll Hours
  • construction budget template
    CONSTRUCTION BUDGET TEMPLATE

 

Available for instant download now!

Progress Payment / Payment Schedule Excel Template

Save time, improve consistency and streamline your credit control with our Progress Payment / Schedule Excel template pack.


Cash is king!

Efficient credit control processes can often be the difference between life and death for many contractor businesses.

This progress payment template will help you to submit your applications in a clear and concise manner, and help you proactively track your outstanding payments. Also, it’s smart features will reduce the chance of human errors, and cut down on time wasted on admin!


When should I submit progress payment applications?

Contracts over 45 days long should always allow for interim or progress payments. (if you are reading this from the UK, this is actually a legal requirement).

Your contract should state the frequency of process payments. This is usually monthly, but can be based on stage of completion.

The end of the month is the most common, but some clients adjust this to suit their accounting calendar.

You should understand what your contract allows, and submit applications in a timely manner, before the due dates.

Keeping on top of when payments can be applied for, and proactively chasing payments when agreed terms and not complied with is vital to stay on top of your cash collection.progress payment template schedule

Track the status of payments with the schedule tab of our template


Chasing payments

While the exact payment process will vary with the terms on your contract, and the laws of your country, usually there are at least two key dates to monitor in the process:

a) Certificate – usually the client is obliged to give you a payment certificate within a certain timescale

b) Payment due date – you should have agreed terms of payment, stating the timescale from the valuation date to the date the you are to receive the funds

Our template automatically adds the agreed dates to the cover letter, to serve as a polite reminder the paying party.

If payments are late, you should immediately issue a polite reminder letter and a phone call to find out what the problem is, before moving to more serious measures if the problems continue.

For more advice on this we recommend that you consult with a professional… Here at webQS we have years of experience of carrying out interim valuations, and dealing with payment procedures. Click here to learn more / send us an enquiry.

You can read more about change control procedures here:

Designing Buildings Wiki – Click Here

The RICS (Royal Institution of Chartered Surveyors) guidance on Interim Valuations and Payment: Click Here

 

progress payment template

Our template produces a cover letter, with due date reminders. All the information is pre-filled and dates pre-calculated from a one-time input of base data.

 


Features of the template

Complete 3 forms in 1 – Generate cover letter, payment application, and schedule/ tracker sheet.

Simply fill in the project information one time, which pre-fills all the application templates and cover letters. Cut down time spend on repetitive admin tasks!

a) Cover letter – This is already pre-filled with project info and dates that certification and payment are due;

b) Valuation – Auto calculates previously certified and retention (if your contract requires this), to deduct from your total valuation;

c) Schedule – Auto-populates payment schedule so you can track status of your payments.

 


Designed for ease of use

The template is self-explanatory and easy to use, and for additional ease of use we have included a tab containing instructions and helpful tips.

Sections which require manual inputs are highlighted.

The sheets are also pre-formatted and optimised for converting to PDF, or printing.

All templates are fully unlockable so you can customise them to suit your business.

 


Progress Payment / Payment Schedule Excel Template

  • progress payment template

Available for instant download now!

 


Or… get ALL of our templates for only $49.99 (£40 GBP)

Buy our full suite of templates and save over 35%!

Contains 5 x multi-functional, easy to use templates:

Construction Schedule (Gantt chart)

Progress Payment Pack

  • Progress Payment Form
  • Payment Schedule

Construction Budget Pack

  • Construction Budget
  • Profit and Loss Forecast
  • Cash Flow Forecast
  • Weekly Cost Tracker

Change Order Pack

  • Change Orders
  • Register of Changes

Daily Site Log Pack

  • Daily Construction Log
  • Weekly Payroll Hours
  • construction budget template
    CONSTRUCTION BUDGET TEMPLATE

 

Available for instant download now!