I am working on my first multiyear contract for a project that will last many years. I am thinking through the price escalation clause. This would be for engineering services only, and I charge based on the square footage of material I provide designs for.
Do you tie your escalations to a particular index? CPI or ENR index?
Increase it once a year or more often?
Anything else I should consider?
Do you tie your escalations to a particular index? CPI or ENR index?
Increase it once a year or more often?
Anything else I should consider?