The Project Manager has received an application for payment from the Contractor. The application includes an amount in connection with a compensation event notified by the Contractor three weeks ago. The Project Manager accepted the matter as a compensation event and instructed the Contractor to submit a quotation. It is now the assessment date and the Contractor has not yet submitted its quotation for the compensation event.

Which ONE of the following best describes the actions now required by the Project Manager?

Select ONE option

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Issue the payment certificate within one week of the assessment date and include an amount for the compensation event in the assessment of the amount due

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Assess the Price for Work Done to Date without taking into account the compensation event and issue the payment certificate within one week of the assessment date

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Issue the payment certificate within one week of the assessment date and include the actual Defined Cost of the work done by the dividing date in connection with the compensation event

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Assess the Price for Work Done to Date and retain an amount equivalent to the value of the work done in connection with the compensation event

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Instruct the Contractor to resubmit its application for payment excluding the amount for the compensation event