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A fluctuation or 'rise and fall' provision in a construction contract operates to adjust the contract sum in response to events that increase or decrease the contractor's costs and are beyond its control. In Hong Kong, clause 36 of the Standard Form of Building Contract Private Edition is an example of a standard fluctuations clause. It allows the contract sum to be adjusted to account for wage fluctuations. Other types of fluctuation events may include rises in material input costs or foreign currency movements. |
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