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Pros and Cons of Cost-Plus vs. Fixed Price Contracts

 

Gain an understanding of project delivery methods, their implications and the current legal landscape.

Supply chain issues, steel and aluminum tariffs, and fuel inflation are changing the construction industry. Contractors and Owners/Developers are having frank discussions about how to handle these issues. There are a variety of approaches - including formulas for time extensions and price increases for supply change issues, adjustments to "or equal" requirements, new flexibility on FFE, particularly as to color schemes for tile, paint, flooring, fuel surcharge allowances, use of allowances for materials and equipment, and pressures to shift to modified cost plus and flexible fixed price arrangements. This program will discuss the basic differences between these two approaches, types of contracts, and the pros and cons of each form of agreement. Equally important, this program will point out how these types of contracts and the underlying risks for each are being considered and evaluated in the present market conditions.

Agenda

Faculty

Carol A. Sigmond

Carol A. Sigmond

Greenspoon Marder

  • Partner in the New York office of Greenspoon Marder LLP
  • Concentrates her practice on construction industry matters, including contract preparation, mediation, litigation, suretyship, bid protests, appeals, and arbitration
  • Extensive experience in litigation of construction disputes for public works and buildings in both the public and private sectors
  • Experienced mediator and is on the New York County Supreme Court Commercial Division Roster of Volunteer Mediators and the American Arbitration Association’s Roster of Construction Industry Arbitrators
  • Former President of the New York County Lawyers’ Association, former Vice President of the New York State Bar Association for the 1st Judicial Department, and member of the New York Building Congress, GCA New York, SCL North America, CLSA, ABA, New York State Bar Association and New York County Lawyers Association
  • Frequent speaker and author on topics relating to Construction Law
  • J.D., The Catholic University of America School of Law; B.A., Grinnell College
  • Can be contacted at Phone: (212) 524-5074 or Email: [email protected]

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