Antonija Krizanac | Davis Wright Tremaine Once again, the construction industry is facing significant challenges due to material availability and price increases. Copper prices hit a record high on May 15, 2024, and have gained around 30% in 2024. Accordingly, copper, essential for electrical components and wiring, has seen prices soar this year, exacerbating supply… Continue reading Material Price Surges: What They Mean for Construction and How To Cope
Tag: Building Materials
Pandemic-Related Construction Materials Pricing Poses Challenges in Construction Lawsuits
Nick Stewart | Construction Executive During the global pandemic the construction industry saw unprecedented inflation in the cost of building supplies as a result of a myriad of issues. On May 7, 2021, lumber prices hit a record high at $1,670.50 per thousand board feet. This was more than six times their pandemic low in… Continue reading Pandemic-Related Construction Materials Pricing Poses Challenges in Construction Lawsuits
Building Materials Price Increase Clause for Contractors and Subcontractors – Three Options
William L. Porter | Porter Law Group With the arrival of inflation come concerns regarding increases in the price of building materials within the construction industry. Contractors, subcontractors and others who contract to perform construction work can suffer significant losses when the prices they must pay for materials rises significantly between the time they sign… Continue reading Building Materials Price Increase Clause for Contractors and Subcontractors – Three Options
Material Price Escalation Has Become A Source Of Substantial Conflict In Construction Contracting
V. James Dickson and M. Scott Jones | Adams and Reese The cost of building materials has risen significantly this year. Who should bear this risk and how can the various parties to construction contracts mitigate this risk? Owners, contractors, subcontractors, and suppliers have historically taken divergent perspectives in the control of risk of material… Continue reading Material Price Escalation Has Become A Source Of Substantial Conflict In Construction Contracting
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?