As we weather the highest economic inflation since the 1980s amidst continued construction demand across many sectors, everyone is now faced with the question, "how do we handle cost escalation from contract to project completion?"

Specialty contractors are feeling deeply exposed as they produce estimates today with prices that may be completely irrelevant tomorrow. Owners, of course, want price certainty in a totally uncertain market. Companies caught on the wrong side of this issue are risking devastating losses, and some companies are considering bowing out of the market right now rather than gamble on what seems like losing odds.

Michael Wagner, a construction attorney at Seyfarth Shaw LLP, joins The Huddle to talk about how contracts can protect everyone involved so we can move forward with confidence and keep America building.