Edward Federico and Kimberly Reome | HKA Case example: A 20-story apartment building is under construction in a major USA city’s downtown. The owner and general contractor established a contract with a guaranteed maximum price of $50 million and planned for a two-year construction schedule. The contractor lined up the subcontractors and started the foundation… Continue reading The Coming Wave of Construction Disputes – Supply Chain Disruptions and Material Price Increases
Tag: Material Escalation Provision
Include Materials Price Escalation Clauses in Construction Clauses
Robert Alfert, Jr. | Construction Executive The construction sector has been in a bull market for an unprecedented period of time. With the novel impacts from the coronavirus—and all the associated side effects, such as government moratoria, shipping delays and materials availability—we are now in a market of extreme volatility in pricing, inflation and increasing… Continue reading Include Materials Price Escalation Clauses in Construction Clauses
A Key Battleground: Material Price Escalations and Supply Chain Disruptions
Colm Nelson | Stoel Rives Material price escalations and supply chain disruptions are hot topics in the industry, with many clients inquiring about their rights and how these risks should be shared. Some have even questioned whether their projects should proceed given the volatility in the market. For instance, I saw at least one project’s… Continue reading A Key Battleground: Material Price Escalations and Supply Chain Disruptions
How are you Dealing with Material Delays / Supply Chain Impacts?
David Adelstein | Florida Construction Legal Updates In a prior article I discussed a material escalation provision in your construction contract to account for the volatility of the material price market. While including such a provision may not have been much of a forethought before, it is now! What about concerns with the actual supply chain that impacts the… Continue reading How are you Dealing with Material Delays / Supply Chain Impacts?