The Dotted Line: Careful wording of contracts can combat price escalations

Rising materials prices make it more important than ever for contractors to limit risk in their agreements with owners.

Careful wording of contracts in this feature is a part of “The Dotted Line” series, which takes an in-depth look at the complex legal landscape of the construction industry. To view the entire series, click here.

As supply chain disruptions and material pricing volatility continue to rattle the construction industry, the timeline for when contractors might see a return to normalcy has only grown murkier.

For example, 73 ships were waiting to unload cargo off the coast of Southern California last week, according to the Wall Street Journal, while on the other side of the country, 20 vessels were anchored off the Port of Savannah. All of them were delayed due to cascading logistics snarls from earlier in the pandemic that have yet to work their way through the supply chain.

To read the entire article, click on the link below.

https://www.constructiondive.com/news/the-dotted-line-careful-contract-wording-can-combat-price-escalations/607161/

Tom is a construction estimator with over 35 years of experience in the industry from field work to general contracting.

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