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  • Avellaneda, Keitharold S. Prelim Assignment 2 Construction Management 11/05/2021 Construction Contract

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    KEITHAROLD AVELLANEDA
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    The document is a construction contract that outlines liquidated damages. It defines liquidated damages as a pre-agreed amount that can be recovered if a party breaks the contract, usually referring to failure to complete construction on time. The amount aims to estimate actual damages upfront. The contract establishes these damages for the construction project between the contractor and owner.

    Original Description:

    ASSIGNMENT 2

    Original Title

    AVELLANEDA_PRELIM_ASSIGNMENT_2

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    The document is a construction contract that outlines liquidated damages. It defines liquidated damages as a pre-agreed amount that can be recovered if a party breaks the contract, usually referring to failure to complete construction on time. The amount aims to estimate actual damages upfront. The contract establishes these damages for the construction project between the contractor and owner.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views5 pages

    Avellaneda, Keitharold S. Prelim Assignment 2 Construction Management 11/05/2021 Construction Contract

    Uploaded by

    KEITHAROLD AVELLANEDA
    The document is a construction contract that outlines liquidated damages. It defines liquidated damages as a pre-agreed amount that can be recovered if a party breaks the contract, usually referring to failure to complete construction on time. The amount aims to estimate actual damages upfront. The contract establishes these damages for the construction project between the contractor and owner.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 5

    AVELLANEDA, KEITHAROLD S.

    PRELIM ASSIGNMENT 2
    CONSTRUCTION MANAGEMENT 11/05/2021

    CONSTRUCTION CONTRACT
    AVELLANEDA, KEITHAROLD S. PRELIM ASSIGNMENT 2
    CONSTRUCTION MANAGEMENT 11/05/2021
    AVELLANEDA, KEITHAROLD S. PRELIM ASSIGNMENT 2
    CONSTRUCTION MANAGEMENT 11/05/2021
    AVELLANEDA, KEITHAROLD S. PRELIM ASSIGNMENT 2
    CONSTRUCTION MANAGEMENT 11/05/2021
    AVELLANEDA, KEITHAROLD S. PRELIM ASSIGNMENT 2
    CONSTRUCTION MANAGEMENT 11/05/2021

    Definition
    Liquidated damages are an amount of money, agreed upon by the contractor and
    the owner at the time of the contract signing, this contract establishes the
    damages that can be recovered in the event a party breaks the contract. The
    amount is supposed to replicate the best estimate of actual damages when the
    parties sign the contract. These typically apply to a specific type of breach, and in
    construction, it is normally the failure to complete work on time.

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