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What is the difference between cost escalation and price adjustment in construction contract?
Wiki User
∙ 11y ago
In my opinion cost escalation refers to a scenario in which cost enhancements of the specified items in the specified formula are agreed to be given to the contractor with time over the base line agreed therein. The price adjustment on the other hand refers to not only escalation or enhanced rates but variation in the negative side also. As in construction contract, the variation in rates may be on either side, it is appropriate to use the word of price adjustment rather than price escalation.
Regards,
Liaqat Hayat
Wiki User
∙ 11y ago
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How does a company draw up a construction management contract?
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Is clean up usually included in a construction contract?
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How many Types of contract in civil engineering?
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What is EPC or Turnky Contract?
Both EPC and turnkey engineering, procurement, and construction contracts. The difference is that In turnkey, thee contractor is responsible in performing construction and commissioning, but in EPC, construction and commissioning is the responsibility of a third person.
What is the difference between an attachment to a contract and an addendum to a contract?
Addendum's are often added to contracts in order to add or make changes to the contract. Attachments on a contract are often found in e-mails.
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Im looking for a solid construction contract template.Any contractors out there can give ne advice.?
Hello, you can find construction templates at: www.docstoc.com/search/Construction-Contract-Template/
How does a company draw up a construction management contract?
A construction management contract is drawn up in line with CDM regulations. The contract outlines the specific duties for all parties involved from the very start of a construction project with a focus on Health and Safety.
Can you back out of a construction contract?
Yes but..... You will ruin your rep....
What type of appropriation can be used to fund a two year old contract adjustment?
Expired
How do you get out of a signed contract to buy a house?
You can get out of the contract, but you will forfeit your deposit. If you are in the midst of construction, that may be a different matter.
What is an example of contract costing?
construction of bridges, buildings etc
Can some explain to you the difference between an insurance adjustment vs insurance write-off You are a Vision care provider and you want to know the correct approach to imputing the insurance paymen?
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