Liquidated Damages (LD) are paid pursuant to a contractual agreement between the parties as to what happens in the event that say completion of a project is delayed or a fleet of vehicles are returned each having exceeded the agreed mileage. LD’s are not a debt owed by the contractor to the recipient but a secondary obligation consequent on breach.
The Government announced last week (on 14th February 2022) a proposed change to its Building Safety Bill, allowing a Government Minister to stop a named developer from doing development. This would be with no recourse for appeal or compensation, even where planning permission has been granted.
In this article we will explore the key differences to be taken into account between the JCT and NEC contracts when deciding what form of contract is the right one for your project.
As HMRC clamps down on VAT fraud, suppliers of construction services should ensure they understand how the reverse charge works.
Cathrine Ripley. a partner in our construction team, provides a brief overview of the different types of insurance that may be required on a construction project.
Our construction team explores what sort of security banks typically require when providing finance in connection with a construction project.
Our construction team explores when a tenant should consider insisting on a collateral warranty when taking out a lease of a newly constructed or refurbished commercial property.
Our construction team explores the various constructions contracts involved in the erection of a new commercial building and what a purchaser should consider as part of its due diligence process.
Needless to say, a construction project depends for its success on the contractor performing its obligations under the construction contract. This guide gives an overview of the methods used by developers to protect themselves against default by a contractor.
