Liquidated damages, generally known as liquidated and ascertained damages or delay damages in construction contracts, are pre-determined fixed sums that the parties to a contract have agreed will be payable on breach by one of the parties.
In construction contracts, they most frequently apply where there has been failure to complete the works by the contractual completion date.
In this 30 minute webinar our experts will consider:
- What are liquidated damages and how is their value determined?
- What is the link between liquidated damages and other contractual mechanisms such as delay?
- Liquidated damages in practice
- Getting it right – traps for the unwary
- Top tips to take away
Who should attend?
This is essential viewing for any construction professionals including contractors, sub-contractors, developers and construction consultants, particularly those operating in England and Northern Ireland.