Price variation clauses (also referred to as “fluctuations” or “price adjustments” or other similar terms depending on the form of contract) are a highly talked about topic in the construction industry currently, with the industry experiencing a period of prolonged instability concerning material costs.
Historically, for shorter-term contracts, contractors took the risk of material costs in contracts, making allowances in their prices for fluctuations. However, with the spikes experienced in the past few years, contractors have become less willing to take on this risk, or when they do, protect themselves by making significantly larger allowances.
On the other side of the coin, employers are more willing to agree to these clauses either because they are not willing to agree to pay the allowances made by contractors or believe that what goes up, must come down and so there is likely to be a market correction soon.
This ‘price variation clauses’ webinar will discuss common forms (indices-based and invoice-based) and the evidence required to perform the calculations to determine the amounts due.
Join this webinar to learn how common price variation clauses work.
John is a Senior Associate at Quigg Golden, where he provides advice and support on both contentious and non-contentious construction and procurement matters. His specialities include dispute resolution such as adjudication, contract drafting and procurement advice.
John currently works with some of the UK and Ireland’s largest firms on a wide variation of projects of all scales.
John has previously worked for major contractors, a global consultancy and spent time in New Zealand working for a supercity council. He was involved both in contracting and consultancy, gaining experience managing and working on varied construction projects including airport construction, large commercial & residential developments and major utility projects.
With this breadth of experience, he can assess and understand the issues from multiple perspectives while putting his industry knowledge to use advising our clients quickly and efficiently.
You can view John’s contact details here.
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