The partnership will see the NEC suite of contracts become Peru’s preferred framework for infrastructure projects.
NEC and the Ministry of Economy and Finance (MEF) for Peru have announced a new partnership for the NEC suite of contracts to become the country’s preferred contract framework for infrastructure projects.
Representatives came together to sign a memorandum of understanding, leading to the publication of an official Spanish translation of the entire NEC4 Contract suite, user guides and training programmes.
Peru’s use of NEC Contracts began in 2017 through the government-to-government initiative for the Lima Pan American Games facilities.
Through its success, NEC Contracts have now been used on just under $9 billion worth of public projects in Peru.
MEF is partnering with NEC and the UK government to aid national procurement through:
- collaborative and transparent risk management
- improved decision making
- a significant reduction in procurement times
Supporting more transparent and efficient procurement
Speaking on the partnership, global head of NEC Contracts, Rekha Thawrani OBE, said it was a “great pleasure” to build on an already strong relationship.
“The NEC Contract suite was designed to empower collaboration and foster long lasting relationships, so seeing this shared across the world is a great step in the NEC journey.
“The upcoming translation of the NEC4 contracts represents our commitment to ensuring ongoing support and wider adoption of the contracts across Latin America,” Thawrani said.
Speaking on the UK and Peru collaboration, the British Ambassador to Peru, Gavin Cook OBE said, “This memorandum of understanding marks a milestone in our collaboration with Peru to support more transparent and efficient procurement, and to help boost investment in the country.”
Cook highlighted that NEC Contracts are a standard in the UK, and have helped boost collaborative working and innovation, as well as reduce disputes.
Cook said: “Their adoption here has already driven huge benefits and I’m delighted that we are leading the way and pushing the first translation of NEC Contracts as we integrate these into Peru’s procurement system.”
Fairer competition for more UK companies
The translation of the NEC4 contract suite also aligns with the recent publication of the new Public Procurement Law, supported by the UK government.
This has improved market access conditions by including UK principles on transparency, value for money and a reference to free trade agreements.
The new procurement law and the implementation of NEC Contracts will open the floor to fairer competition for more UK companies.
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