Explain how and when liquidated damages could be assessed during ...

[bcretired]

Explain how and when liquidated damages could be assessed during construction projects.
 
  What will be an ideal response?

Question 2

Explain how an owner will benefit from a no damages for delay clause.
 
  What will be an ideal response?

[pami445]

Answer to Question 1

Rather than have a contractor be in breach of contract if he or she is not able to complete a project as scheduled liquidated damages provide compensation to owners when this situation occurs at the end of a construction project. Liquidated damages could only be assessed if an owner is able to prove that he or she is losing a certain amount of money per day for each day that the completion of a project extends beyond the scheduled completion date.

Answer to Question 2

Owners would not benefit from a no damages for delay cause because they would not be entitled to damages if a contractor delays their project. A damages for delay clause allows an owner to set the amount of damages per day that would have to be paid to the owner by the contractor if a project is not completed on time. Damages could only be assessed if owners are able to prove the amount they would be losing per day if a project were not completed on time.

[bcretired]

Thanks for the timely response, appreciate it

[FergA]

Great answer, keep it coming