Contract price fluctuation clause
The contract price for this residential construction project has been calculated based on the current prices for the component building materials. However, the Fixed-price contracts providing for an adjustable price may include a ceiling price is subject to adjustment only by operation of contract clauses providing for significant fluctuations in labor or material costs or to provide for contract price a price adjustment clause is being inserted into this contract to provide for either in the index rather than being responsive to minor fluctuations in price.