Seyfarth Construction associate Michael Wagner spoke on the topic of fair legal solutions to material cost escalation in the April 19th episode of The Morning Huddle podcast “Contractual Solutions to Cost Escalation.”
Specialty contractors are feeling deeply exposed as they produce estimates today with prices that may be completely irrelevant tomorrow. Owners, of course, want price certainty in a totally uncertain market. Companies caught on the wrong side of this issue are risking devastating losses, and some companies are considering bowing out of the market right now rather than gamble on what seems like losing odds. The podcast discussed how contracts can protect everyone involved in a construction project. Listen to the full podcast here.