Case Study 7 A Contract was signed b'n the employer and the contractor on January 19, 2004 with the following facts: Project Cost = 10 Million Birr > Completion Time = 36 Months Liquidated damage = 1/100 per delay of Calendar day > Limit of Liquidated Damage = 10 % of the Project Cost > Banks interest on saving account = 3 % per annum compounded monthly Retention = 10 % of the executed work > Rebate =2.5 % of the Project Cost The Contractor's progress on January 19, 2006 was found to be 45 %. Variation works done until January 19, 2006 was amounted to 500,000 Birr. The 2ad and the S payments were delayed for two months amounting Birr 600,000 and Birr 350,000. As a Consultant workout 1. the total and justified delay of the project 2. the liquidated damage 3. Payments delay compensations Determine the position of the project and recommend action required? Assume no other claim is filed by the contractor and / or the Employer