THE CLAIM OF ESCALATION BEYOND CONTRACT BY FIDIC

this paper analyze the importance of the claim of escalation beyond contract terms by following the FIDIC red book and by calculating the escalation by following the Economic advisor of India due to an abnormal increase in price due to COVID-19 and after that, the rise in central bank rates to fight inflation and Russia’s war in Ukraine continue to weigh on economic activity. According to my investigation, it is found that global inflation is expected to fall from 8.8 percent in 2022 to 6.6 percent in 2023 and 4.3 percent in 2024 which are still above pre-pandemic (2017-2019) levels of about 3.5 percent. The basic design of my study is to make understand the working of the claim for escalation in the construction project and to forecasts the amount of escalation required for budgetary and bidding purposes