Fixed-Price Contracts Are Simple – Or Are They?
In L3Harris Maritime Services, Inc f/k/a L-3 Unidyne, Inc. v. BAE Systems, Norfolk Ship Repair Inc., U.S. Magistrate Judge Robert Krask from the Norfolk Division of the Eastern District of Virginia recently held that, even in...more
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
The Armed Services Board of Contract Appeals (ASBCA), in the case of StructSure Projects, Inc., recently granted COVID-19-related costs to a contractor under a fixed-price contract. The key facts, holdings, and takeaways from...more
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
Section 822 of the 2023 National Defense Authorization Act, Public Law No. 117-7776 (Dec. 23, 2022) provides new authority for some defense contractors and subcontractors to obtain price increases that address the impacts of...more
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
In a fixed-price contract, increased costs caused by market inflation alone will not entitle the contractor to an equitable adjustment. Contracting Officers are advised to utilize contract provisions that include an...more
WHAT: The U.S. Department of Defense (DoD) issued a memorandum to provide guidance on the use of economic price adjustments (EPAs) in existing and prospective DoD contracts in response to contracting officers’ (COs) and...more
The Houston First Court of Appeals of Texas recently affirmed a trial court’s decision wiping out a whopping $17 million claim brought by a contractor against an owner for acceleration costs, holding that the claim was barred...more