Title: Impact of Building Materials Price Fluctuation on the Performance of Fixed-Price Contracts
Abstract:The fixed-price contract is a kind of common forms of construction contracts,but the contractors take higher risks when taking this contract.Particularly,the fluctuation of building materials price is...The fixed-price contract is a kind of common forms of construction contracts,but the contractors take higher risks when taking this contract.Particularly,the fluctuation of building materials price is obvious in recent years,which makes it difficult to fulfill the contract normally.Contract Law and other relevant laws provide the legal basis for the fixed-price contracts that is difficult to perform.Supreme People's Court defined the principle of changed circumstances in the form of judicial interpretation in 2009,which also provides the legal basis for the performance of the fixed-price contracts.A field survey for construction enterprises in the city of Nanjing provides the realistic foundations for the adjustments of fixed-price contracts and the application of the changed circumstances principle.Read More
Publication Year: 2010
Publication Date: 2010-01-01
Language: en
Type: article
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