In today’s podcast, Maria Elliott, attorney/partner for Barley Snyder talks about contracts and risk management. 

Maria shares her insight about the changes being made in contracts since COVID.  Maria commented that before COVID, owners and general contractors were focused on force majeure, which is the unforeseeable circumstances that prevent someone from fulfilling a contract. Since COVID, the shift has been on price escalation. With supply chain issues, owners and general contractors are faced with the concerns of material prices rising. Maria helps write contracts to make sure that there is consideration across the board to account for price increases and decreases on a project.

Listen to the complete podcast to hear more about escalation and de-escalation clauses in contracts. 

Maria Di Stravalo Elliott is a member of Barley Snyder's Real Estate Practice Group. Elliott counsels international, national, regional, and local businesses and individuals on complex real estate and construction transactions.