NEAT (Nearby Earth Astrometric Telescope) is an astrometric space mission aiming at detecting Earth-like exoplanets located in the habitable zone of nearby solar-type stars. For that purpose, NEAT should be able to measure stellar centroids within an accuracy of 5 10 -6 pixels. In order to fulfil such stringent requirement, NEAT incorporates an interferometric metrology system measuring pixel gains and location errors. To validate this technology and assess the whole performance of the instrument, a dedicated test bench has been built at IPAG, in Grenoble (France). In this paper are summarized the main system engineering considerations allowing to define sub-systems specifications. Then we describe the general architecture of the performance models (including photometric, interferometric, and final astrometric budgets) and confront their predictions with the experimental results obtained on the test bench. It is concluded that most of error items are well understood, although some of them deserve further investigations.