Project modifications are practically inherent to the construction industry business. Design mistakes, last minute variations the client requires and unforeseen challenges are usually the culprits behind these changes.
Interestingly, variations made to a contract after its signing provide the builder with the possibility to substantiate financial claims. Such demands issued by the contractor in order to receive a remuneration adjustment, are usually referred to as Change Orders (CO). Setting cost implications aside, these modifications will usually lead to extended construction periods (EOT).
In all, while the client’s objective remains to minimise budget overruns and schedule risks, from the building company’s standpoint
an active claim management might allow for economic advantages. Therefore, what role can a supplier play in a contracting/
For a supplier to be able to safeguard himself using offensive as well as defensive claim management and/or damage liquidation refusals while issuing counterclaims at the same time, it is important to bring into play the many tools at hand. In any case, clear and thoroughly detailed bid documents will be key.
Today, we would like to examine these additional options with you. We kindly invite you to gain an overview of the pros of an active claim management by attending our presentation.