Common use of REDUCTION OF LIQUIDATED DAMAGES Clause in Contracts

REDUCTION OF LIQUIDATED DAMAGES. Add the following paragraphs at the end of this Sub-Clause: “There shall be no reduction in the amount of liquidated damages in the event that a part or a section of the Works within the Contract is certified as completed before the whole of the Works comprising that Contract. The Employer shall pay no bonus for early completion of the Works to the Contractor. The sum stated in the Appendix to Bid as liquidated damages shall be increased by a sum equivalent to any additional amount payable by the Employer to the Contractor under clause 70.1 in respect of an increase in costs in such a period that would not have been incurred by the Contractor if the works had been completed by the due date for completion prescribed by Clause 43.” Add The Employer may, without prejudice to any other method of recovery, deduct the amount of such damages from any monies due or to become due to the Contractor, and after the limit of deduction prescribed in the Appendix to tender is reached, the Contract shall be considered due for Termination.

REDUCTION OF LIQUIDATED DAMAGES. Add the following paragraphs at the end of this Sub-Clause: “There shall be no reduction in the amount of liquidated damages in the event that a part or a section of the Works within the Contract is certified as completed before the whole of the Works comprising that Contract. The Employer shall pay no bonus for early completion of the Works to the Contractor. The sum stated in the Appendix to Bid as liquidated damages shall be increased by a sum equivalent to any additional amount payable by the Employer to the Contractor under clause 70.1 in respect of an increase in costs in such a period that would not have been incurred by the Contractor if the works had been completed by the due date for completion prescribed by Clause Xxxxxx 43.” Add The Employer may, without prejudice to any other method of recovery, deduct the amount of such damages from any monies due or to become due to the Contractor, and after the limit of deduction prescribed in the Appendix to tender is reached, the Contract shall be considered due for Termination.