In recent months, Architects and Clients inquiring about the rising cost of materials and labour on construction projects.
Available for download are documents giving some background information.
Where the price risk transferred 100% towards the tendering contractor, their tendered quotation has to include for all future price changes and resulting in overall higher tenders being received.
Limiting this risk to a level less than 100% can have its benefits, should the costs maintain an increasing trajectory. With the various aspects of Brexit, COVID-19 and its effect on supply and demand, we are in unchartered waters, and all measures should be reviewed and invoked as appropriate to mitigate these possible increases, in the short to medium term.