Damages Clauses

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Contents:

1. Introduction P.2
2. The criteria necessary for a purported liquidated damages clause.. P.3
3. The main factors of claims P.4
4. The benefits to Employers and Contractors in a valid liquidated damages clause P.5
5. If the liquidated damages clause is not held to be valid and enforceable P.6
6. Conclusions and Recommendations P.10

      Question 2: Discuss the criteria necessary for a purported liquidated damages clause to be held to be valid, the benefits that would accrue to Employers and Contractors in agreeing a valid liquidated damages clause and the principles (including but not limited to any disadvantages) involved in claiming damages if the liquidated damages clause is not held to be valid and enforceable 1. Introduction The implementation of construction projects are based Supervision Contract, construction contract as a medium to investors, supervision, construction of the three parties together, both interrelated between them, and mutual restraint, in order to realize the investments project progress the quality objectives are and work together. Therefore, the project contracts are essential for any party to the project file. The construction contract management is the most important daily management. The Fulfillment of Contracts, the contract because of the other party fails to perform or improper performance of the tasks agreed in the contract losses and to the other party claims duration and economic, they constitute the core of contract management. To strengthen construction contract and claims management is not only to ensure the smooth progress of the construction works, the better for companies to avoid the unnecessary loss, strive for more profits The construction industry of Hong Kong determines was rapidly to increase of various engineering construction projects. Demand for the construction industry growing wider. Due to construction in a longer period of time. Moreover, many building and infrastructure projects will be still overflow the original contract period.. For the project quality it directly associated to people’s lives and the property safety. This determines the particularity of the project construction. In project construction, signed a contract to make all kinds of effective measures to ensure the quality of the project. The contract conclusion to the both sides responsibility shall perform the provisions of made clear that if one party does not strictly abide with the terms of the contract entered into by the other party of the contract so that the losses, than the defaulting party shall immediately to stop the breach of contract and shall be punished in the accordance with regulation or pay the injured party liquidated damages to compensate for the loss caused to the other party.

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