Please join us at our April Monthly Meeting. Historically, owners, contractors, subcontractors, and suppliers have approached allocation of risk arising from material price increases on construction projects differently. Until recently, however, the risk of such unexpected material price increases was not significant on an industry-wide basis. So, under normal circumstances, construction contracts did not directly contemplate this kind of contingency. This all changed in 2021. Volatile material prices have forced parties to a construction contract to address and account for unexpected price increases and delivery delays. We will have guest speakers from Martin | Hild, P.A. present “Price Escalation and the Construction Contract” at our April Monthly Meeting.
During this event we’ll cover:
- Price escalation impacts to project planning
- Contractual terms and conditions that address escalation
- Escalation impacts as changes to the contract
- Dispute process governing escalation impacts
- Escalation impacts to the design build contract
- Reformation of the construction contract due to escalation impacts
- Conclusion and summary of points
Frank Hild & Joseph Zavoral with Martin | Hild, P.A.