Tag: Liquidated Damages Clause

Chris Cazenave | Jones Walker Liquidated damage clauses are omnipresent in today’s construction contracts—often considered in early negotiations to provide a degree of certainty and limit financial liability. There are two principal types of LDs appearing in construction contracts—(i.) damages for delay when a contractor fails to deliver a project by a certain milestone; and… Continue reading What You Should Know About Liquidated Damages and Liability Caps for Delay and Performance Liquidated Damages

Chris Burrows | Ahead of Schedule Considering all that can go wrong on a construction site, it can seem like a miracle that anything is ever built. Construction projects can be massive undertakings, often with millions of dollars at stake, requiring the coordination of thousands of people. The glue that holds the organized chaos together… Continue reading The Role of Liquidated Damages Provisions in Construction Contracts

David R. Cook Jr. | Construction and Procurement Blog A liquidated-damages clause was not enforced in a recent case before the Georgia Court of Appeals. The clause did not contain standard provisions that would normally allow a trial court to enforce the clause as written. As a result, the trial court looked beyond the contract… Continue reading Liquidated Damages Clause Not Enforced

Joseph Voboril | Tonkon Torp When representing owners on construction contracts, I often ask the owner whether they want to include a liquidated damages provision in the contract. A liquidated damages provision describes an amount of money, agreed upon by the parties when the construction contract is signed, that establishes the damages that can be… Continue reading The Liquidated Damages Provision in Construction Contracts: Include or Leave Out?

Christian Fernandez | Real Estate Ligitation Blog Liquidated damages provisions in commercial and residential real estate contracts play a vital role when a transaction goes south, and should be given careful consideration when negotiating a real estate contract. Liquidated damages may be referred to in a variety of ways, such as “earnest money,” a “good-faith… Continue reading Liquidated Damages: Too High and It’s a Penalty. Too Low and You’re Out of Luck.