Among contractual provisions that sometimes go unnoticed or unappreciated is the “liquidated damages” provision, which is often used in construction contracts to identify the amount of damages that a contractor will owe the owner if there is a delay in completing construction. In my latest article for the Daily Journal of Commerce, I provide
liquidated damages
When to Have the Hard Talk About Setting Liquidated Damages
By Colm Nelson on
In my latest column for the Daily Journal of Commerce, I look at the concept of liquidated damages – in my experience one of the top five heavily negotiated (and litigated) clauses in a construction contract. Because a project owner’s potential delay damages are often difficult to determine with certainty at the beginning of…