During the construction period, price variation clause in contracts caters to -

Dnyan Deshmukh

Staff member
During the construction period, price variation clause in contracts caters to -

(a) Increase in rates of only imported materials

(b) Variation in cost in materials element, labour element and petrol oil lubricant
element

(c) Variation in total cost of the project on an adhoc basis

(d) rate of inflation.

The correct Answer Is
(b) Variation in cost in materials element, labour element and petrol oil lubricant
 
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During the construction period, price variation clause in contracts caters to -

(a) Increase in rates of only imported materials

(b) Variation in cost in materials element, labour element and petrol oil lubricant
element

(c) Variation in total cost of the project on an adhoc basis

(d) rate of inflation.
if you have mentioned in contract for cost escalation and basic price of material. you have to right to ask price variation clause.
 
During the construction period, price variation clause in contracts caters to -

(a) Increase in rates of only imported materials

(b) Variation in cost in materials element, labour element and petrol oil lubricant
element

(c) Variation in total cost of the project on an adhoc basis

(d) rate of inflation.
D