This has been one of the most helpful clause in our contracts given todays crazy markets. The generals have been pretty understanding and receptive as long as we have documentation of the price increase.
1.2
In the event of significant delay or price increase of material occurring during the performance of the contract through no fault of the contractor, the contract sum, time of performance, or contract requirements shall be equitably adjusted by change order in accordance with the procedures of the contract documents. A change in price of an item of material shall be considered significant when the price of an item increases 5% between the date of this contract and the date of installation.
