As a result of these risks, most building contracts fix the damages that will be payable to the employer for late completion in advance.
These are referred to as 'liquidated damages' (LDs).
An unliquidated debt, for example, is one for which the precise amount owed cannot be determined from the terms of the contractual agreement or another standard. The unascertained amount which is due to a person by another for an injury to the person, property, or relative rights of the party injured. Key dates and sectional completion All commercial projects, particularly large ones, may reach practical completion (PC) in stages.Sectional completion is best used where an employer wants the contractor to complete a defined part of the works so that it or another contractor can take over that section entirely.continue reading » Our website is optimized to work on desktop, tablet and mobile phones.We also have an about me section so you can give a summary about your hobbies and who you are.
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The contractor would not then be expected to carry out any further work to that section, although it would remain liable for defects.