LD - Liquidated Damages
Liquidated Damages is a term used in the construction industry. It is a penalty to the Contractor for delaying the project beyond the completion date. Amount of penalty per day is mentioned in the Appendix to Tender ( Ex : particular conditions of contracts ).
The Delay damages are claimed under the Employers claims and the maximum amount of liquidated damages is limited to Amount stated in the Appendix to Tender.
Liquidated Damages is a term used in the construction industry. It is a penalty to the Contractor for delaying the project beyond the completion date. Amount of penalty per day is mentioned in the Appendix to Tender ( Ex : particular conditions of contracts ).
The Delay damages are claimed under the Employers claims and the maximum amount of liquidated damages is limited to Amount stated in the Appendix to Tender.
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