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A Guide to Fluctuations provisions - clauses in construction contracts that allow the contract sum to be adjusted
Fluctuations provisions are clauses in construction contracts that allow the contract sum to be adjusted to take account of changes to the price of labour, materials and other costs throughout a construction project due to inflation. If a contractor tenders on the basis of prices current at the time of tender, and then inflation results in the cost of procuring the works increasing during the project, the contractor bears that cost. Where there are no fluctuations provisions in the contract the contractor should take consider inflation and the risk of any inflationary increases in its pricing.
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