BEGIN:VCALENDAR VERSION:2.0 PRODID:-//CiviCRM//NONSGML CiviEvent iCal//EN X-WR-TIMEZONE:Europe/Berlin METHOD:PUBLISH BEGIN:VTIMEZONE TZID:Europe/Berlin BEGIN:STANDARD TZOFFSETFROM:+0100 TZOFFSETTO:+0100 TZNAME:CET DTSTART:20261029T180000 END:STANDARD END:VTIMEZONE BEGIN:VEVENT UID:CiviCRM_EventID_80_3655b13ac800b785233b0608d39764c9@www.scl-gulf.org SUMMARY:Lump sum contracts and price escalation in the GCC X-ALT-DESC;FMTTYPE=text/html:
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The presentation will examine pri ce escalation in lump sum contracts across the GCC \, focusing on the tension between the principle o f contractual price certainty and the impact of ex ceptional increases in the cost of materials\, lab our and other inputs. It will consider the contrac tual allocation of escalation risk\, the legal mec hanisms available under selected GCC laws to addre ss unforeseen or exceptional circumstances\, and t he circumstances in which contractors may seek adj ustment of the contract price or other relief. The presentation will also address recent market deve lopments and practical approaches to drafting and managing price-escalation risk in major constructi on projects.  

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DESCRIPTION:\n The presentation will examine price escalation in lump sum contracts across the GCC\, focusing on the tension between the principle of contractual price certainty and the impact of exceptional incr eases in the cost of materials\, labour and other inputs. It will consider the contractual allocatio n of escalation risk\, the legal mechanisms availa ble under selected GCC laws to address unforeseen or exceptional circumstances\, and the circumstanc es in which contractors may seek adjustment of the contract price or other relief. The presentation will also address recent market developments and p ractical approaches to drafting and managing price -escalation risk in major construction projects.   \n \n \n \n \n Balancing the principle of price c ertainty (pacta sunt servanda) with the reality of severe\, unexpected inflation in material\, labor \, and logistics costs\n How global and regional supply chain events may impact traditional risk al location\n In classic lump sum contracts\, the co ntractor typically bears the risk of price fluctua tions unless specific escalation clauses are inclu ded\n Force Majeure vs. Undue Hardship \n Overvi ew of civil codes across the GCC that allow for ju dicial intervention in extraordinary circumstances \n The New UAE Civil Code legal framework: analys is of the recent updates \n Practical approaches\ n \n \n CATEGORIES:Meeting CALSCALE:GREGORIAN DTSTAMP;TZID=Europe/Berlin:20261029T180000 DTSTART;TZID=Europe/Berlin:20261029T180000 DTEND;TZID=Europe/Berlin:20261029T200000 LOCATION:VOCO Hotel\n Sheikh Zayed Road\n Dubai\, \n United Arab Emirates\n URL:https://www.scl-gulf.org/civicrm/event/info?reset=1&id=80 END:VEVENT END:VCALENDAR