New Price Escalation Member Resource in InfoHub!
ASA released a new contract language resource document this week addressing the much requested issue of price escalation. Lee Brumitt, of Dysart Taylor Cotter McMonigle & Brumitt, PC, produced and supplied the resource for the Association. It is now an accepted reality of construction that certain products and materials specified for a project may be permanently or temporarily unavailable due to shortages of workers or component materials at the manufacturer or in the shipping and distribution channels. A subcontractor has little to no control over the specification and availability of materials and the limited supply of materials and other pressures have caused unabated inflation in the cost. The purpose of the Addendum is to establish a base price for materials and provide a mechanism for the Subcontractor to obtain reimbursement for increases in the price of materials.
Please make sure to check it out today and put this valuable tool in your contract arsenal!
Log into your account today to access the InfoHub to check out this and all of the other amazing resources available as part of your ASA membership! If you don't have an account set up, do it today and manage all of the benefits of being an member!