Few provisions in construction contracts give rise to as much misinformation as liquidated damages clauses. Many upon many engineers, owner representatives, and contractors attest to have a firm understanding of when liquidated damages can be imposed and when they cannot; the problem is their understanding is more often than not incorrect.
This webinar by Zach Jones will help you understand that liquidated damages have a valid purpose. When that purpose is served, a liquidated damages clause can usually be enforced. Often, however, liquidated damages either start out or end up as nothing more than a penalty for finishing late. When the clause turns in to a penalty, many courts will not enforce it. Thus, the critical question in most jurisdictions is whether the liquidated damages represent an agreed upon scheme to compensate the owner for damages which are difficult to measure or whether it simply represents a fortuitous penalty for the owner.
In this program, you will learn:
Benefits of the session
Who should attend
Zach Jones is a construction attorney in Louisville, Kentucky, with the firm of Stites & Harbison who represents contractors across the country and around the world. Prior to becoming an attorney, Zach was a project engineer and estimator for W.L. Hailey & Company (now Layne, ENR Top 400 #53). Havin... More info