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Thursday, June 26, 2008

Through the Roof” Material Price Escalation and Construction Services

 The Problem
  • Material prices increasing
  • Most construction contracts are fixed-price contracts and can take a year or more to complete
  • Such contracts are typically based on material prices estimated at the beginning of the project
  • Most construction contracts/projects today have relatively slim profit margins
  • Delayed delivery of materials due to shortages
  • Can delay an entire project and put contractors at risk of liquidated damages, extended overhead, etc.

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