Common use of LIQUIDATED DAMAGES FOR LATE COMPLETION Clause in Contracts

LIQUIDATED DAMAGES FOR LATE COMPLETION. 12.1 For the purposes of condition 6.8 (Liquidated damages) of the Conditions of Contract, liquidated damages for any delay in the completion of the Works or a Section shall be payable as follows:- 12.1.1 Where the Works are not divided into Sections at the rate of £Nil per day/week/month or part thereof pro-rata. 12.1.2 Where the Works are divided into Sections at the following rates:- Section no Section Rate of liquidated damages ........................ N/A .................. £ per day/week/month or part thereof pro-rata ........................ N/A .................. £ per day/week/month or part thereof pro-rata ........................ N/A .................. £ per day/week/month or part thereof pro-rata ........................ N/A .................. £ per day/week/month or part thereof pro-rata 12.2 The parties agree that the above rate or rates of liquidated damages (if any) represent a fair and reasonable pre-estimate of the losses and expenses that the Authority may suffer as a result of any delay in the completion of the Works or any Section (as the case may be) and that, accordingly, the above rate or rates shall not be construed as a penalty.

LIQUIDATED DAMAGES FOR LATE COMPLETION. 12.1 For the purposes of condition 6.8 (Liquidated damages) of the Conditions of Contract, liquidated damages for any delay in the completion of the Works or a Section shall be payable as follows:- 12.1.1 Where the Works are not divided into Sections at the rate of £Nil NIL per day/week/month or part thereof pro-rata. 12.1.2 Where the Works are divided into Sections at the following rates:- Section no Section Rate of liquidated damages ........................ N/A .................. £ per day/week/month or part thereof pro-rata ........................ N/A .................. £ per day/week/month or part thereof pro-rata ........................ N/A .................. £ per day/week/month or part thereof pro-rata ........................ N/A .................. £ per day/week/month or part thereof pro-rata 12.2 The parties agree that the above rate or rates of liquidated damages (if any) represent a fair and reasonable pre-estimate of the losses and expenses that the Authority may suffer as a result of any delay in the completion of the Works or any Section (as the case may be) and that, accordingly, the above rate or rates shall not be construed as a penalty.