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Construction Firms needs to find new alternative suppliers

Since the start of Covid-19 crises, the construction firms face delays because of locked borders. Earlier suppliers are unable to deliver the orders when countries close their borders. Construction firms need to find alternative suppliers. The impacts of the virus on the global construction business might prove to be detrimental. Contractors are at the forefront as they are service and product providers at the same time. Covid-19 affects both material and labor, key cost components of construction projects, and by doing so, challenge on-going project delivery, companies’ liquidity, and whole business models. A comprehensive list of legal action to claim an extension of time or financial entitlement defined in JCT, NEC, and FIDIC contracts is provided by Pinsent Masons and can be downloaded here. Read more: https://www.eic-federation.eu/covid-19-and-global-construction
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