NEC, JCT and FIDIC allocate risk, handle time and money claims, and resolve disputes very differently. A practical QS comparison of all three major construction contract suites.
Tag Archives: JCT
Liquidated damages/Delay damages in construction
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”