Absent a contract provision to the contrary, the general rule is that the contractor bears the risk of increases in the price of materials in fixed-price construction contracts.  So, what can contractors do to manage the risks of price volatility and escalation?  This presentation will cover the legal and practical strategies for managing the increased costs of materials, including providing specific price escalation clause language contractors can use to shift the risk of material price changes to owners.  What will be covered:

• What contract provisions can contractors use to address material price increases and delays.
• How to address jobs not yet under contract, including how to negotiate and include price escalation clauses in your contracts.
• How to address jobs already under contract, including strategies on how to work with suppliers and owners to try to mitigate the effect of price increases.

Benjamin S. Lowenthal

Associate

HENDRICK PHILLIPS SALZMAN & SIEGEL, P.C.

BEN LOWENTHAL joined HPSS in May 2019 and brings a breadth of experience in resolving commercial and construction disputes. Ben represents clients in all phases of commercial and construction litigation with a focus on pre-litigation strategy development. Ben regularly drafts specialized construction documents and assists clients in the review and negotiation of construction contracts. In addition, Ben advises clients in connection with corporate and commercial transactions, as well as labor and employment and environmental matters.

Ben received his undergraduate degree in Environmental Economics and Management from the University of Georgia. Ben l received his J.D. degree from the Elisabeth Haub School of Law at Pace University, where he was the Managing Editor of the Pace Environmental Law Review. Upon graduation, Ben received the 2013 Dean’s Award, Full-Time Division (voted and presented by the faculty to one student in the graduating class) and the 2013 Adolf Homburger Humanitarian Award (voted and presented by the student body to one student in the graduating class). Ben also received an LL.M. in Environmental Law from the Elisabeth Haub School of Law while a Graduate Fellow within the Center for Environmental Legal Studies.

Ben has been recognized and listed by Super Lawyers as a Rising Star (New York Metro). He is also an active participant and supporter of Swim Across America.