Exceptional measures: price revision in public contracts
Decree-Law 36/2022, of 20 May, which was published in the Official Journal, establishes an exceptional and temporary regime for price increases impacting on public contracts. The adoption of this regime is motivated by the exceptional situation in the supply chains and the migratory circumstances resulting from the COVID-19 disease pandemic, the global energy crisis and the effects of the war in Ukraine which resulted in abrupt increases in the prices of commodities, materials and labour, particularly in the construction sector. This decree-law, which will remain in force until 31 December 2022, will apply to public contracts under execution or to be concluded, and to public contract procedures initiated or to be initiated, and provides for an extraordinary price revision mechanism and the possibility of extending deadlines in public works contracts.
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[Photo by: Mari Helin, available at unsplash.com]