Contractors Have Risk Options During Unusual Business Environments
Since summer 2021, NUCA members have experienced continued materials delivery and even shortages of steel joists, copper, insulation, stainless steel, brass, and DI & PVC pipe and fittings. These unexpected additional delays and increasing costs are disrupting projects across the nation. Mitigating risk on price escalations should be one of a contractor’s top business strategies, and NUCA will explain your options.
In this National Utility Contractors Association webinar, Shawn Farrell and Thomas Olson, local chapter counsels for NUCA, will discuss how contractors can mitigate the risks associated with today’s unprecedented material cost increases. The presenters will share their strategies for implementing a “best practices” methodology for dealing with this ever-changing supply environment. This webinar will focus on how to negotiate changes to the terms of contracts, when to ask for escalations, and get change orders approved to cover the cost of increases in materials and labor. Our experts will also discuss who can support the contractor during these meetings.
Questions and discussion regarding NUCA members’ experiences with this ongoing crisis will be welcomed.