Denise Motta | Construction Law Blog This Bulletin provides guidance to contractors, subcontractors, suppliers, and others to ensure compliance with contractual change order requirements in the event work on a construction project is impacted by price escalation. Construction projects are being impacted by increased costs for most construction materials. The Producer Price Index shows a… Continue reading Price Escalation Impacts
Tag: Material Escalation
Material Escalation: A Difficult Road to Recover Costs
David Timm | Fox Rothschild The annual inflation rate in the United States rose 7% in 2021, its highest rate since 1982. The construction industry has not been immune from this general trend, with steel prices rising 200% and lumber prices soaring as high as 288% at different points in 2021. Usually when confronted with… Continue reading Material Escalation: A Difficult Road to Recover Costs