Description
Learn what is needed to accurately and persuasively price a price escalation claim.
Delays on construction projects are inevitable. And, as such, so are the damages stemming from those delays. While some of these damages are straightforward calculations, others, such as cost escalation damages, are less so. So, what is a construction contract escalation clause, and how does it apply to your project? Owners will learn where and how their contracts allow recovery for escalation claims, and what the contractor must prove to be entitled to that recovery. This will enable owners to understand what they should pay and what they shouldnt pay. Contractors, CMs, attorneys, and the consultants and accountants that advise them will learn what is needed to accurately and persuasively price a price escalation claim. The focus is on the hard topics the legitimate escalation damages associated with delay, and the damages often claimed that are not legitimate. Additionally, some case studies will be provided to show exactly how these clauses are interpreted and the damages for escalation calculated.
Date: 2024-02-01 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define what cost escalation is.
* You will be able to describe the different types of cost escalation that may occur on a construction project.
* You will be able to explain the scenarios in which a contractor may be able to recover for cost escalation claims.
* You will be able to review how to calculate the damages due in cost escalation claims.