The government took nearly 9 months to approve the funding after all the bids by constructors were received around April 2022 and given the rate of inflation at the time (and construction inflation was higher than the general rate) no subtrades held their price.
Barring the case where companies reneged on a quote and still earned further business, is it illegal to say “$15million plus inflation of 0.x%/mo” or “$20mil which is $15mil plus adjustment for inflation over typical 9mo review process” ?
Not sure it’s illegal but I’ve never seen it done. Every front end specification I’ve seen says the contractor must hold their price for 30/60 days and many of them stipulate by what date the contract is expected to be awarded.
If the type of pricing you say was submitted when it wasn’t asked for the bid would be tossed for not conforming to the required format. If that type of pricing was asked for you’d have pricing all over the place and you’d probably end up with a shitty contractors who bud extra low and bank on a drawn out approval process getting the job for less than they can actually do it for (and cutting corners like crazy)
The issue is that nobody really expected the approval to be that drawn out.
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Barring the case where companies reneged on a quote and still earned further business, is it illegal to say “$15million plus inflation of 0.x%/mo” or “$20mil which is $15mil plus adjustment for inflation over typical 9mo review process” ?
One of those two have to give.
Not sure it’s illegal but I’ve never seen it done. Every front end specification I’ve seen says the contractor must hold their price for 30/60 days and many of them stipulate by what date the contract is expected to be awarded.
If the type of pricing you say was submitted when it wasn’t asked for the bid would be tossed for not conforming to the required format. If that type of pricing was asked for you’d have pricing all over the place and you’d probably end up with a shitty contractors who bud extra low and bank on a drawn out approval process getting the job for less than they can actually do it for (and cutting corners like crazy)
The issue is that nobody really expected the approval to be that drawn out.