Hello everyone, I hope you all are doing great. Today, I am going to share with you about "How To Calculate Liquidated Damages in Construction?" In almost all construction contracts that will be a clause that provides that the contractor will pay liquidated damages to the owner of the project in case there is a breach of contract. In construction, a breach of contract, which leads to the owner claiming liquidated damages, usually relates to a failure to complete a project in contractual time (that is, failing to complete works and handing over the house to the client at the date agreed on the contract).
When calculating liquidated damages, the client bases them on a daily or weekly rate – the amount a contractor is required to pay will depend on t ...
