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What is Difference Between Price Escalation and Price Adjustment about?

Price escalation and price adjustment are contract mechanisms addressing cost changes due to market conditions. Price escalation accounts for unforeseen increases in material and labor costs driven by external factors, while price adjustment relates to changes in project scope or specific contractual terms. Each serves different purposes, with escalation protecting contractors from market volatility and adjustments ensuring fair compensation for scope changes.

Author

abera

Language

EN