Article Date: 03/07/11

EDITOR'S NOTES | Issue 9-10

Liquidated damages for late completion of a project are sometimes referred to as a “penalty.” This is inaccurate. While liquidated damages may feel like a penalty to a contractor, they cannot be punitive in nature. To be enforceable, liquidated damages must reflect the costs, reasonably foreseeable at the time of contract ... Log in to view the full text.

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