What is the difference between liquidated damages and a penalty for late completion of the contract?

Question:

What is the difference between liquidated damages and a penalty for late completion of the contract?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Construction Management

ISBN: 9781119256809

5th Edition

Authors: Daniel W. Halpin, Bolivar A. Senior, Gunnar Lucko

Question Posted: