LONDON, Aug. 15,
2024 /PRNewswire/ -- NEC and The Ministry of Economy
and Finance (MEF) for Peru have
announced a new partnership for the NEC suite of contracts to
be adopted as the country's preferred contract framework for
infrastructure projects.
Representatives came together to sign a Memorandum of
Understanding, leading the way to the publication of an official
Spanish translation of the entire NEC4 Contract, user guides and
training programmes.
The use of NEC Contracts began in Peru through the Government-to-Government
initiative in 2017. Through its success, NEC has now been used on
just under $9billion 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 and a significant reduction in procurement
times.
Speaking on the partnership, Global Head of NEC Contracts, Rekha
Thawrani OBE said: "It is with great pleasure we sign this
agreement with the Government of Peru and continue to further our already
strong partnership.
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."
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. NEC Contracts are a standard in the UK
and have provided many benefits, such as collaborative working,
dispute reductions and innovation. 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."
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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