Tag: LADS
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Liquidated Damages in Construction Contracts
When reading construction contracts, one often encounters a term that holds significant weight: Liquidated Damages (LADs). For a quantity surveyor, comprehending these clauses is paramount. This article aims to explain Liquidated Damages, their purpose, implications, and the role they play in construction projects. What Are Liquidated Damages? Liquidated Damages are predetermined penalties or charges stipulated…