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In case of building material rise during the contract period contractor will:

1 / will send request to owner for addional cost2 / will bears addional cost3 / will stop wok to renew contract4 / non above

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Question added by Asim Azaldeen Abdalrahman Mhammed , Property Manager , TAAM PROPERTY
Date Posted: 2015/01/16
Alex Al Yazouri
by Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

It's in the risk assessments field, depend on the contract and how much but generally I would say that there is a valid claim by the contractor.

1 / will send request to owner for addional cost 

Mohammed Abul Mansur
by Mohammed Abul Mansur , General Manager , Sanmar Properties Limited

In the agreement, there is a scope of rate variation of different items of contract . When we prepare agreement we should provide a clause from contractor end about rate adjustment during inflation. So we can go through this clause during cost of materials rises.

Asim Azaldeen Abdalrahman Mhammed
by Asim Azaldeen Abdalrahman Mhammed , Property Manager , TAAM PROPERTY

Its important to show clearly for this conditional in contract articls and defined both owner and contracor responsibilties in this case ..

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