News & Analysis as of

Supply Chain Construction Contracts Price Adjustments

Seyfarth Shaw LLP

Drafting Smarter: Force Majeure and Price Escalation Clauses in a Tariff-Heavy Era

Seyfarth Shaw LLP on

In light of recent disputes, international construction firms are rethinking how they draft force majeure and price escalation provisions to better address tariff-induced cost increases. While traditional force majeure...more

Porter Hedges LLP

Price Escalation Considerations in Construction Contracts

Porter Hedges LLP on

With material cost volatility in the current market, the topic of price escalation clauses is more prevalent. Some material costs are up and other costs are now down. Traditional lump sum contract structures do not take into...more

Fox Rothschild LLP

Material Escalation: A Difficult Road to Recover Costs

Fox Rothschild LLP on

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...more

Snell & Wilmer

Construction Cost Impacts Post COVID-19: Cost Escalation and Delay

Snell & Wilmer on

The current state of the construction industry as it concerns cost escalation and supply issues is one of uncertainty and time of performance problems resulting in increasing costs. There are major disruptions and delays in...more

Stinson LLP

Material Cost Escalation: Who Bears the Cost Now? And, What Can Be Done to Address the Problem in the Future?

Stinson LLP on

While an increase in construction costs for materials is not new to the industry, the extent of the cost increases during this COVID-19 time may be beyond anyone's experience. Prior to COVID-19, material costs have spiked for...more

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