Colm Nelson | Ahead of Schedule It is no secret that the price of construction materials has increased dramatically over the last three years. The price surge has been attributed to COVID-19, foreign wars, and other events throughout the globe, such as a Suez Canal blockage and an unprecedented ice storm in Texas, among other… Continue reading Are We Finally Getting Relief from Price Escalation in Materials?
Tag: Construction Material Prices
Strategic Measures for Material Price Escalation
David J. Hyun and Hal G. Block | Atkinson Andelson Loya Ruud & Romo Increased costs for construction materials and equipment are impacting construction projects throughout the nation. Construction contracts often do not address material price escalation which creates risks for contractors, subcontractors, and suppliers. Therefore, it is important to understand how to protect against… Continue reading Strategic Measures for Material Price Escalation
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
What Contractors Can Do to Address Rising Material Costs
Garret Murai | California Construction Law Blog From lumber to used cars to pastrami sandwiches, prices are rising. This past month, at a town hall meeting in Cincinnati, Ohio, President Biden acknowledged that inflation was increasing, responding to a question from a restaurant owner about labor shortages, “I think your business and the tourist business is… Continue reading What Contractors Can Do to Address Rising Material Costs
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