Common use of Other Compensation Events described in Clause in Contracts

Other Compensation Events described in. the Contract or determined by the Project Manager shall apply. (m) after all retentions and deductions would be less than minimum amount of Interim Payment Certificate stated in the SCC. The Project Manager shall not be bound to certify any payment. 47.2 If a Compensation Event would cause additional cost or would prevent the work being completed before the Intended Completion Date, the Contract Price shall be increased and/or the Intended Completion Date shall be extended. The Project Manager shall decide whether and by, how much the Contract Price shall be increased and whether and by how much the Intended Completion Date shall be extended. 47.3 As soon as the Contractor has provided information demonstrating the effect of each Compensation Event upon the Contractor‟s forecast cost, the Project Manager shall assess it, and the Contract Price shall be adjusted accordingly. If the Contractor's forecast is deemed unreasonable, the Project Manager shall adjust the Contract Price based on the Project Manager's own forecast. The Project Manager will assume that the Contractor will react competently and promptly to the event. 47.4 The Contractor shall not be entitled to compensation to the extent that the Employer's interests are adversely affected by the Contractor's not having given early warning or not having cooperated with the Project Manager.