Dive summary:
- Contractors should expect questions from clients when they submitting claims for higher-than-expected materials costs.
- Among the inquiries to expect are whether the increased costs were solidly connected to whatever changed on the project and whether there's a good record of the estimated versus the actual costs for that aspect of the work.
- If costs have escalated since materials were ordered, is there anything in the contract about that situation, and have discounts, rebates or other cost-cutters been figured into the claim for more money?
From the article:
There are a variety of increased material costs that may be included in a request for additional compensation or a claim. ...