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Fluctuating Contract Prices

GeorgiaPreliminary Notice

Due to the extreme volatility of the current lumber market, some of our big jobs are being sold across multiple purchase orders to reflect changes in lumber prices. For example, one of our current projects only has a firm price for the first building of the job. As the project continues into the other buildings, new purchase orders will be issued accordingly. This makes it difficult to determine the total estimated contract price. Is this something to be concerned about as far as sending the notices with an estimated total contact amount?

1 reply

Mar 1, 2021
This is a good question. You can only provide a good faith estimate with the information you have available. You could add a note that the estimated contract amount is subject to increase due to the fluctuation in material costs.
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