Posted by & filed under Electrical estimating, estimating Tips & Hints, Mechanical Estimating.

brexit

On the cusp of a major referendum to decide if we remain or leave the EU have you considered how it may affect your business when undertaking your Mechanical or Electrical Estimating?

If we vote to leave we could see major currency fluctuations in sterling, this could mean that goods to be purchased or delivered may go up in price, especially when so much of goods specified are from Germany. So ensure that you use a Brexit price adjustment clause based on the euro to sterling rate of exchange at the time of tender.

For example you may consider some wording such as , “Our tender is based on the exchange rate of the euro to sterling on the day of submission of our tender. Should suppliers increase their quote values we reserve the right to pass the increased cost on.” This may then form the basis of a discussion of who and where the risk will sit when reviewing your electrical or mechanical estimate/Tender.

What does the ECA say about Brexit

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