Johnsonweek 3 Liquidated damagesCOLLAPSE Do I think liquidated damages are fair? Yes and No. As we all know problems are going to occur when it comes to the Construction world, and not all contractors...

Do I think liquidated damages are fair? Yes and No. As we all know problems are going to occur when it comes to the Construction world, and not all contractors are honest, that's why the liquidated damages clause was designed to help limit risks, time, and money. It's like an insurance policy for owners and contractors which I think is a good advantage. Liquidated damages provisions are not always enforceable what I dislike about the clause. To help avoid discrepancies the owner and contractor should be on the same page, and any type of excusable delays should be discussed between the two parties throughout the entire project, just in case things do not go as planned. That way there will be a clear understanding and no surprises within the contract.