Claims and Insolvencies
The construction industry covers a complex field of activity involving many operative skills and conditions which vary considerably from one project to another. Site and climatic conditions, market conditions, project characteristics and available resources are some of the variables, each of which can have a significant effect on the operation of the contract. In the 1990–95 recession contract prices were pared to the bone with the result that even relatively minor changes to projects frequently gave rise to the submission of claims, which often caused substantial increases in the eventual costs, as evidenced in the Channel Tunnel and Canary Wharf.
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