| 논문명 |
A Delphi Study on the Price Escalation Clause in a Construction Contract |
| 저자명 |
Min Soo Choi ; Moo Han Kim |
| 수록사항 |
ARCHITECTURAL RESEARCH(대한건축학회 논문집), v.8 n.1 (2006-06) |
| 주제어 |
Escalation ; Fluctuation Rate ; Price Change ; Adjustment ; Construction Price Index |
| 요약1 |
The purpose of this study is to suggest policies to improve the price escalation system in a construction contract through a Policy Delphi technique. The Delphi, including two times questionnaires and a group discussion, was conducted by joining 14 experts. Also, the escalation provisions of various countries were examined. Results of the Delphi showed that the minimum fluctuation rate for price escalation was desirable at a level of 3%. To compute the fluctuation rate, calculating the price fluctuation of overall articles was more desirable than using price indices. A bidding date was more reasonable as the initial date of change in price. Losses caused by price change should be shared between contractor and owner; therefore a deduction rate should be introduced in price escalation. Meanwhile, overhead and profit should be adjusted in proportion to the fluctuation rate; but advance payment or the delayed construction amount should be deducted from the adjusted amount. |
