31 Jan 2023

Security of Payment Provisions in Public Works Contracts, the Challanges Facing Hong Kong.

Given the missed opportunity to address the fundamental issues at the core of Hong Kong’s problems, the primary concepts of NEC are, in reality, still largely alien to the existing mentality of Contract procurement, risk allocation and final account resolution that pervades the industry. The deeply enshrined mindset of “Final Account negotiations” has no place in a properly administered NEC Contract genuinely administered under a spirit of co-operation, mutual trust and collaborative risk management between the contracting parties.    

 

An article by Mike Ellis, Director of InSite Solutions Limited

20 January 2023