Recovering Material Price Increases

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maggmick

Member
I quoted a project on 11/13/03 knowing that Phase II of this project would not start until May, 2005. In my quote I made provisions for material increases, but not nearly enough to cover what has happened to steel and wire prices.

Is their any place to find % changes in material prices for the last two (2) years so that I can provide proof in order to recover some losses?
 
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highkvoltage

Senior Member
Re: Recovering Material Price Increases

I believe you are in a pickle unless material cost increases are very well defined in the 03 contract. Unless your working with a honest GC/customer. My est never exceed 60 days. If you can recover the increases you should be able to contact the supply house you work with and they should be able to quote you a difference. Now if you use the big box stores again I would believe your out of luck again. Will the GC or customer just let you rebid the project?
 
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maggmick

Member
Re: Recovering Material Price Increases

The job schedule was known at bid time and adjustments or projections were incorporated in our bid price. Even though we accounted for a 30% increase in the basic material costs, we did not expect to see a 60% to 80% increase. The owner has agreed to help with the cost difference, but I need to show proof.
 
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