Hi all, I’ll be querying this with my building broker and my solicitor, but just wanted to get people’s thoughts on this special condition:
“This contract is valid for 120 days from date of execution, and may be subject to a price review after this time”.
There is nothing that explains what ‘date of execution’ means, from what I can see, but I think it is from date contract is signed. I feel this would be an unfair clause as 120 days is not a very long time into the build to be able to up prices….. what is the point of ‘fixed price contract’ if the price can be changed a few months into it? I understand there will be some extra costs for provisional sums etc, but a whole price increase seems unfair.
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