Author(s)

Ke Zhao

Corresponding Author

Ke Zhao

Abstract

In construction projects, adjustment of contract price caused by force majeure often leads to disputes and disputes between the two parties, which in turn leads to uncontrolled investment in the project. Force majeure is one of the core factors affecting the price adjustment of construction contracts. The risk sharing of force majeure mainly abides by the principle of imputation [1]. However, this is only a qualitative study and is not conducive to engineering practice. Based on redefining the connotation of force majeure and building a bank of force majeure, this paper analyzes the research status quo of price adjustment mechanism of construction contract. In view of the lack of quantitative research, practical application, and poor guidance to engineering practice, this paper introduces the Shapley value correction method and constructs the contract price adjustment mechanism based on the Shapley value correction method. In this paper, a case of force majeure caused by the lifting of the contract, the analysis of the force majeure caused the contract to lift the way of study, and to relieve the contract after the release of responsibility for the study.

Keywords

Force majeure, Shapley value correction method, Price adjustment.