Over the past year, the volatility of construction material prices has wreaked havoc on construction budgets and caused many disputes between owners, general contractors, subcontractors and material suppliers. For example, lumber prices have tripled, PVC and copper prices have almost doubled, and certain material suppliers have refused to hold pricing for more than twenty-four hours. This begs the following questions: who bears the risk of these price escalations, and how can construction stakeholders mitigate these risks? Continue reading the full post here.

March 31, 2021/by Construction