rise-and-fall
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rise and fall
Also called: fluctuations (NZ)
HB50
agreed method of upward or downward adjustment to a contract sum to allow for fluctuations in the cost of labour and/or materials during the construction period, mainly to reimburse the contractor for any additional costs incurred that could not be foreseen or quantified at the time of signing the contract
Cost adjustments are made according to a ‘rise and fall’ formula stipulated in the contract, generally based on monthly industry figures released by a recognized authority.
See also: cost adjustment