JCT has launched a new fluctuations information hub for contract users, covering the options available within JCT contracts
The construction industry is currently facing increasing economic uncertainty and volatility. For the built environment in particular, in addition to the rises in general inflation and interest rates, labour availability and materials indices are even more uncertain, with supply problems and shortages contributing to specific price increases.
Minimising the impact of economic volatility on a construction project
One way that a JCT contract can help to minimise the impact of economic volatility on a construction project is with the use of fluctuations provisions.
The new fluctuations information hub contains articles explaining fluctuations’ principle, how they work, what options are available within JCT contracts and how they can be incorporated and operated within the contract.
Fluctuations and JCT Contracts
In addition, JCT has added a specific video, ‘Fluctuations and JCT Contracts’ to their range of JCT Training Video Modules. ‘Fluctuations and JCT Contracts’ provides much more detailed information covering each fluctuations option, where to find them, how to select the correct option in the Contract Particulars, and how to calculate the necessary information to operate each option within the contract.
This latest video is an essential primer to fully understanding the use of fluctuations in JCT contracts.
More information is available on JCT’s corporate website at corporate.jctltd.co.uk/fluctuations.
