News & Analysis as of

Fixed Price Contracts Construction Industry

StoneTurn

Risk Awareness and Mitigation in Disaster Recovery: During a Catastrophe

StoneTurn on

In 2022, the United States experienced 18 separate weather and climate disasters costing at least one billion dollars according to NOAA. In 2023, that number rose to 28 separate billion dollar weather events. The frequency...more

Bradley Arant Boult Cummings LLP

Don’t Overlook Your Subcontracts on Federal Projects

The Armed Services Board of Contract Appeals’ (“ASBCA or “Board”) decision in Fluor Intercontinental, Inc., serves as an important reminder to prime contractors to be cognizant of the clauses they include in subcontracts for...more

Bradley Arant Boult Cummings LLP

Hell or High Water: Why Contractors Must Understand Contractual Risks

The Armed Services Board of Contract Appeals (“ASBCA”) recently denied a contractor’s claim for additional compensation as the contractor failed to establish its work was constructively suspended or that its contract was...more

Vinson & Elkins LLP

Contracting for an Uncertain Future: A checklist for contracting in a high-risk inflationary market

Vinson & Elkins LLP on

The global construction and engineering industries are grappling with inflationary pressure, continued impacts from COVID-19 plus material and labour price increases....more

White & Case LLP

Construction Projects: Issues with Cost Estimates

White & Case LLP on

The cost of construction materials has risen like never before. This, in turn, creates pressure for parties to use cost estimates and budgets rather than "fixed price" contracts. Providing cost estimates can therefore be...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

Bradley Arant Boult Cummings LLP

Assumptions Will Make a Fool out of You and the Reasonableness of your Delay-Related Costs Claim

Author(s) Sydney M. Warren In one of its recent opinions, Kellogg Brown & Root Services, Inc. v. Sec’y of the Army, the Federal Circuit issued new guidance on what contractors must show to prove the reasonableness of costs...more

White & Case LLP

Construction contracts: who bears the risk of cost overruns?

White & Case LLP on

Construction contracts may be priced in a number of ways. For most contracts, even those which are "fixed price", there is usually scope for cost/price variability. Four cases from December 2020 highlight some of the...more

Troutman Pepper

Fixed-Price Contracts Are Simple – Or Are They?

Troutman Pepper on

Fixed-price contracts are well-known among contractors. These agreements seem simple — they do not allow the contract price to be modified after the award unless the parties expressly agree. But is it really that simple? In...more

Troutman Pepper

Fixed-Price Contracts Are Simple - Or Are They?

Troutman Pepper on

Firm fixed-price contracts seem like a simple concept in practice — agreements that do not allow for the modification of the contract price after award without an express agreement between the parties. Originally published...more

Gray Reed

When is an Unforeseen Condition a “Differing Site Condition”?

Gray Reed on

Many construction contracts contain some version of a “differing site conditions” clause. It is found in the current version of AIA’s A201 general conditions, as well as in the EJCDC equivalent. It also appears in most...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide