Liquidated Damages in Construction: Everything You Need to Know - myComply
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Liquidated Damages in Construction: Everything You Need to Know - myComply
Explore liquidated damages construction clauses and how contractors can protect themselves from losses in the event of enforcement.
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Attorney General and Minister of Legal Affairs, Anil Nandlall SC said several contracts were terminated and the government has been imposing penalties for contractual breaches. He added that the government, through his ministry, has begun instituting penalties in the form of liquidated damages for contract breaches. Liquidated damages refer to a provision allowing for the payment of a specified sum in the case of a breach of contract. Breaches could vary from shoddy work to unjustified delays. |
0:33
Attorney General and Minister of Legal Affairs, Anil Nandlall SC said several contracts were terminated and the government has been imposing penalties for contractual breaches. He added that the government, through his ministry, has begun instituting penalties in the form of liquidated damages for contract breaches. Liquidated damages refer to a provision allowing for the payment of a specified sum in the case of a breach of contract. Breaches could vary from shoddy work to unjustified delays. |
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