NASC Expands Contractual Guidance Notes Offering
The NASC’s contractual guidance offering has been updated and expanded as part of the confederation’s ongoing efforts to ensure all reference materials remain comprehensive and fit-for-purpose.
CG15 – Engineering and Construction Subcontract has been revised to bring it in line with the latest version of the NEC3 contract, and also provides additional advice to member companies who may be asked to engage in this form of contract but don’t have a full technical understanding of what it could entail.
Two new titles have also been published. These are; CG20:20 – A Guide to Monitoring and Chasing Debt, and CG22:20 – Early Payment Schemes.
CG20:20 provides an overview of a contractor’s legal rights and courses of action in the event of late payment of commercial debts. It also includes detailed flow charts and template letters that can be used to help chase any monies owed.
CG22:20 explains the increasingly common Early Payment Schemes, offered my main contractors to provide shorter payment terms in return for a discount on amounts charged.
This guidance provides information from the point of view of the sub-contractor, enabling them to make more reasoned decisions that best suit their company.
Matthew Cousins, Chair of the NASC Contracts Committee, said: “We are pleased to have further strengthened our contractual guidance library with the addition of two new titles.
“The Contracts Committee continues to produce practical guidance that help make complex issues and requirements easier to understand and action, helping contractors to ensure they have appropriate contracts in place with clients and suppliers.”
NASC members can download the new titles via the NASC website. Hard copies can also be purchased by members and non-members.