Among contractual provisions that sometimes go unnoticed or unappreciated is the “liquidated damages” provision, which is often used in construction contracts to identify the amount of damages that a contractor will owe the owner if there is a delay in completing construction. In my latest article for the Daily Journal of Commerce, I provide some tips for owners and contractors to avoid the potentially harsh consequences, waiver of a potential benefit, or unnecessary litigation that can be the byproduct of inclusion of this provision in a construction contract. Read the full article here.
Originally published as an Op-Ed by the Oregon Daily Journal of Commerce on November 18, 2021.