Construction contract bidding is a complex process
Contract bidding is a complex process that requires owners and contractors to provide detailed information about a project. It is necessary in order to reasonably estimate the costs associated with building projects. Though detailed information and careful consideration may have been involved in the bidding process, inevitable changes made after contracts have been signed can result in significant differences between project bids and project costs.
Circumstances unforeseen prior to the start of a project can have significant negative financial impact on contractors, sub-contractors, and owners.