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Times of War and its Impact on Construction Agreements - The Rebus Sic Stantibus Principle
Times of War and its Impact on Construction Agreements - The Rebus Sic Stantibus Principle
Level
Advanced
Duration
5 minutes
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In this course, we’ll look at the rise in construction costs and how it's forcing contractors to review their budgets and seek solutions to mitigate the effect of the increase of the price of raw materials and energy required for construction, which has led many contractors to invoke the rebus sic stantibus clause.
Learning Outcomes
Learning Outcomes
By the end of this course, you should be able to:
• Understand whether the rebus sic stantibus principle can be applied to construction agreements that have been affected by the war in Ukraine
• Describe what the rebus sic stantibus clause allows and what it provides for all parties
