The short norm for the “Liquidated damages” is known as “LD”. The main intention of liquidated damage is to cover the client against the Contractor’s time-related obligations. If the Contractor breaches the contract, the client can ask (deduct) predetermined sum agreed as “liquidated damages” or “Delay damages”. The principal of Liquidated Damages/ Delay Damages LetContinue reading “Liquidated damages/Delay damages in construction”
Tag Archives: Case Law
Best 5 ways to rescind an offer- revocation of offer
Rescind an offer or revocation of the offer, In any kind of relationship or business, in various situations, peoples are receiving and awarding offers. But after offering people might change their mind. So they might want to rescind an offer or revoke an offer. So let us explain to you how this can happen. BeforeContinue reading “Best 5 ways to rescind an offer- revocation of offer”
4 Key elements of Valid contract
A legally binding agreement between two or more parties is treated as a contract. As a Quantity Surveyor, it is essential to know the key elements to create a valid contract. There are four key elements to create a valid contract. before discussing the key elements of a valid contract, will see types of contracts,Continue reading “4 Key elements of Valid contract”