Numerous geopolitical factors continue to disrupt global supply chains, causing construction delays and surging material costs. Inflation and volatility also lead to rapid price fluctuations. This session explores the newest and best approaches, from contract drafting to project management, to mitigate the risk of delays and fluctuating prices. In this session, topics of discussion will include:

• Considering contractual relief provisions beyond the traditional force majeure
• Reviewing price escalation clause templates circulating within industry and assessing the viability of such a clause in your contract
• Rethinking Guaranteed Maximum Price and other similar contracts in light of increasing and fluctuating prices
• Discussing recent material escalation and price escalation claims
  • How are owners and contractors reacting?
  • Are there collaborative solutions, such as the hiring of a neutral project consultant, or must the parties resort to alternative dispute resolution mechanisms or litigation?