New York Partner Christopher B. Kinzel authored, “Liquidated Damages: Six Points Contractors Should Understand,” which appeared on ConstructionExec.com on October 6, 2021. Christopher’s article serves as a practical and important guide on how to manage and leverage liquidated damages. He states, “It is important to understand the basic definition of a legally enforceable liquidated damages clause. Liquidated damages are a reasonable pre-estimate of the actual damages that would likely be sustained in the event of a delay, particularly when the actual damages would be difficult to determine. When both parties sign a contract with a liquidated damages clause, they are accepting the reasonableness of the liquidated damages.”
The full article can be read here.