“EHAB is an absolute must use tool for infrastructure projects today.”
Ian Thrupp, PMO at Smart Motorways Alliance
Partner benefits:
Simple interface
Accurate decisions
Data Driven
Smart Contracts in the Construction Industry
Reduce dispute risk and improve how you and clients share risk by automating your weather-related risk position.
An Industry First
for Construction
As part of the wider Weather Ledger project, we have worked with leading players across the industry to establish and prove the viability and benefits of Smart Contracts for the Construction industry.
Automating the weather clause based on real-time data is a critical step towards a more resilient industry.
Create better working relationships through automated contracts
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Automated decisions in
1.2 seconds.
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per year.
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The first smart contract use case in construction.
Why clients love EHAB
“We are partnering with EHAB to help our mutual construction clients increase their resilience to extreme weather events and tackle the growing threat from the physical risks of Climate Change. This will help our clients gain powerful insights to manage construction risk.”
Patrick Bravery, Global Head of Civil Construction, Liberty Specialty Markets
Benefits:
Proactive management
Risk reduction
Improved margins
Yan Sayles,
Project Manager, BAM Nuttall
EHAB helped achieve:
• £18,500 saved during 2 month pilot
• 80% of team time saved surrounding weather risk analysis
• Our tool improved monthly profit by 18% during pilot
Chris McGinness,
Regional Planning Manager – BAM Nuttall
EHAB helped achieve:
• A robust price backed up by data at bid stage.
• A competitive advantage for BAM when bidding for this work.
• A more accurate long term view on risk and schedule certainty.
Colin Evison,
Head of Innovation, BAM Nuttall
EHAB helped achieve:
• A smart contract sees clear thresholds and rules setup from the start. Leaving no room for subjectivity.
• Data is collected automatically, with all parties knowing exactly when a threshold is broken. The contract executes itself.
• Agreeing to a schedule of payment tied to the contract itself offers best value for money, with no need for human involvement and lightning fast resolution.
Automate your Contract Management
Get greater visibility over your contract’s weather clause. This improves how you and your clients share risk, builds a more lasting relationship and improves project profitability. No more worrying about weather-related claims.
Automated operation of the weather clause
Reduce admin and receive decisions in minutes rather than weeks. Gain absolute certainty over if a claim will occur or not, creating a smoother relationship between contractor and client.
Data is shared with all parties
All parties are provided with data to improve compensation event discussions, reducing the likelihood of disputes.
Option to automate payments
Automated payments streamline the payout process, eliminating disputes and limiting both sides’ liability. When the worst weather strikes, get back on track as quickly as possible. No matter the weather, you can have certainty over costs and impacts.
Receive timely warnings when you are set to reach or breach your trigger points
You will receive timely warnings when you are approaching or likely to exceed your trigger points. Contract management will be streamlined, resulting in saved time and better risk discussions between contractors and clients.
FREQUENTLY ASKED QUESTIONS
To help you get started, here are the answers to some of our most frequently asked questions. If you can’t find the answer to your question, check out our knowledge base or contact the team.
What is a smart contract?
A smart contract is a computer program that automatically enforces all or part of a contract, and it is stored on a blockchain or distributed ledger.
How do smart contracts work?
Parties can either use a traditional contract or a contract that is coded into a computer program, which is stored on a blockchain and executes certain provisions, such as transferring funds from Party A to Party B. The code itself is copied and distributed across multiple nodes of a blockchain. Which provides security, immutability and permanence. As each new block is added to a blockchain, the code executes as a result. If the parties have indicated, by initiating a transaction, that certain variables have been met, the code will take the step prompted by those parameters. If no transaction is triggered, the code will not move.
Why does construction need smart contracts?
Smart contracts can help Construction organisations save money on weather risk by reducing administrative costs and eliminating delays that can last for weeks, resulting in significant uncertainty. Smart contracts help eliminate weather risk uncertainty by instantly making decisions and sharing all data. They are also a great way to build good working relationships by clearly defining risk ownership from the outset of the project and removing previously time-consuming and difficult risk discussions with clients, once the project is impacted.
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