The CIF claims the contract is not outlining the details and designs of projects as it is supposed to.
The public construction contract was introduced in 2007 by the Government Construction Contracts Committee (GCCC).
The Irish government said the contract would be reviewed within three years, but an industry wide consensus that there was insufficient data led to the review not being undertaken in 2010.
Now the CIF says sufficient projects have been undertaken and a full review can be implemented.
"This is a very big problem for our industry at present," said CIF Director General Tom Parlon.
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"Government contracts provide a large proportion of the construction work that is taking place. However instead of being a relief for the industry they are currently causing more problems.
"When the Government contract was introduced there was an agreement that in return for a fixed lump sum payment being provided, the construction company would be supplied with fully designed and detailed plans. This stands to reason. To properly work out the cost of a project you need to know the full specifications and exactly what is involved."
He added: "All parties agreed that this clarity would be provided in advance. In return the Government would know the exact cost of a project and would not face rising bills as costs rocketed. It was a fair trade off that should help the smooth progression of construction projects.
"Unfortunately the reality has not lived up to the ideal. Our members are coming across a lot of public projects on which insufficient detail is being provided.
"For that reason we are calling on the Government to undertake a review of the contract. We want to see contracting arrangements brought in which will fairly balance the needs of the State and the contractor alike."
Mr Parlon concluded: "We also believe that the review should consider the experience of all the participants in the construction process. This will ensure that a fully balanced, detailed and nuanced position is provided."
(IT/GK)
