Liquidated Damages for Delay in Final Completion Clause Samples

The "Liquidated Damages for Delay in Final Completion" clause establishes a predetermined financial penalty that the contractor must pay if the project is not completed by the agreed-upon final completion date. Typically, this clause specifies a fixed amount or a daily rate that accrues for each day the project is delayed beyond the deadline, providing a clear and enforceable consequence for late delivery. Its core function is to compensate the owner for potential losses due to delay and to incentivize timely project completion, while also avoiding the need for lengthy disputes over actual damages.
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Liquidated Damages for Delay in Final Completion. If Professional/Contractor fails to achieve Final Completion within thirty (30) calendar days after the date of Substantial Completion, Subject to extension for force majeure as provided in this Agreement, Professional/Contractor shall pay Corporation the sum of FOURHUNDRED AND NO/100 Dollars ($400.00) per day for each and every calendar day of unexcused delay in achieving Final Completion beyond the date set forth herein for Final Completion of the Work. Any sums due and payable hereunder by Professional/Contractor shall be payable, not as a penalty, but as liquidated damages representing an estimate of delay damages likely to be sustained by Corporation, estimated at the time of executing this Contract. Liquidated damages shall apply regardless of whether Professional/Contractor has been terminated by Corporation prior to Final Completion so long as Professional/Contractor's actions or inactions contributed to the delay. Such liquidated damages shall be in addition to and not in preclusion of the recovery of actual damages resulting from other defects in Professional/Contractor's performance hereunder for matters other than delays in Final Completion. When Corporation reasonably believes that Final Completion will be inexcusably delayed, Corporation shall be entitled, but not required, to withhold from any amounts otherwise due to Professional/Contractor an amount then believed by Corporation to be adequate to recover liquidated damages applicable to such delays. If and when Professional/Contractor overcomes the delay in achieving Final Completion, or any part thereof, for which Corporation has withheld payment, Corporation shall promptly release to Professional/Contractor those funds withheld, but no longer applicable as liquidated damages.
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Liquidated Damages for Delay in Final Completion. .1 If Design/Builder fails to achieve Final Completion as required, Design/Builder will be assessed liquidated damages in accordance with the following schedule for each day of unexcused delay in achieving Final Completion: (1) ($ amount) per day
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Liquidated Damages for Delay in Final Completion. Design-Builder acknowledges and agrees that City would be damaged by a delay in final completion and that such damages are uncertain and difficult to ascertain. If Design-Builder fails to achieve Final Completion within sixty (60) calendar days after the date of Substantial Completion, the Parties further agree that the stipulated amount of ( ), per day for each and every calendar day of unexcused delay in achieving Final Completion beyond the date set forth herein for Final Completion of the Work is a reasonable stipulated amount. Any sums due and payable hereunder by Design-Builder shall be payable, not as a penalty, but as Liquidated Damages representing an estimate of delay damages, estimated at the time of executing this Contract. Liquidated Damages shall apply, regardless of whether Design-Builder has been terminated by City prior to Final Completion, so long as Design-Builder’s actions or inactions contributed to the delay. Such Liquidated Damages shall be in addition to and not in preclusion of the recovery of actual damages resulting from other defects in Design-Builder's performance hereunder for matters other than delays in Final Completion. When City reasonably believes that Final Completion will be inexcusably delayed, City shall be entitled, but not required, to withhold from any amounts otherwise due to Design-Builder an amount then believed by City to be adequate to recover Liquidated Damages applicable to such delays. In the event Design-Builder fails to meet the established or revised date for Final Completion for the Project, beginning on the next pay application submitted to City, Design-Builder shall include a specific line item on each subsequently submitted pay application, following the date established for Final Completion, deduction the Liquidated Damages accrued each month from the amount due Design- Builder for Work performed until Design-Builder is granted Substantial Completion on the Project. Any claim by City for consequential damages resulting from a delay in substantial completion shall be only for damages incurred by City in excess of the amount of Liquidated Damages paid by Design-Builder for such delay in substantial completion pursuant to this Contract. If and when Design-Builder overcomes the delay in achieving Final Completion, or any part thereof, for which City has withheld payment, City shall promptly release to Design-Builder those funds withheld, but no longer applicable as Liquidated Damages.
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Related to Liquidated Damages for Delay in Final Completion

  • Liquidated Damages for Delay In addition to the Contractor bearing the actual cost of correcting any non-compliant work or any other actual damages resulting from Contractor’s breach of this Agreement, the Contractor agrees to pay the Contractor delay damages in the amount of $500.00 per day for every day that the goods and/or services to be provided pursuant to this Agreement have not been timely delivered to the District in compliance with the Scope of Services set forth above, unless the delay has been properly excused by the terms of this Agreement. The parties agree that the District’s actual damages for delay are difficult to estimate and that this $500.00 per day sum is a reasonable pre-estimate of the District’s actual damages for each day of delay and that the is $500.00 per day sum is intended by the parties to be in the nature of liquidated damages, not a penalty. It is not the parties’ intent for this provision to limit either party’s remedies against the other for the breach of this Agreement, except for the District’s money damages for unexcused delays caused by the Contractor.

  • Delay Liquidated Damages Delay Liquidated Damages has the meaning set out in GC 7.6.1.

  • Damages for delay Subject to the provisions of Clause 12.4, if COD does not occur prior to the 91st day after the Scheduled Completion Date, unless the delay is on account of reasons solely attributable to the Authority or due to Force Majeure, the Concessionaire shall pay Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the amount of Performance Security for delay of each day until COD is achieved.

  • Payment of Liquidated Damages If you supply all or some of your milk to a third party during a Month you must, if required by DFMC, immediately pay to DFMC liquidated damages for that Month calculated as follows: $X = W cents x (Y – Z) Where: $X is the amount payable by you to DFMC for the relevant Month. If $X is a negative amount, no amount is payable by you. Y is the average monthly litres you have supplied to DFMC based on the 12 months immediately preceding the relevant Month (or in the event you have not supplied DFMC for 12 months, the average monthly litres you have supplied to DFMC during the period you have supplied DFMC). Z is the number of litres supplied to DFMC by you for the relevant Month.

  • Notice of Liquidated Damages System Agency will formally notify Grantee in writing when liquidated damages action is imposed, stating the nature of the action, the reasons for imposing, and the method of appealing. Grantee must submit a written appeal, within ten (10) calendar days of receipt of the notice, to the SUD email box, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇.▇▇.