Liquidated damages can quickly cripple the profitability of your job and sour a commercial relationship. But, it can also be a powerful commercial tool which provides certainty for both parties to the contract. In this guide we’re going to show you what liquidated damages are and an explanation of the five key elements that influence when liquidated damages apply.
If your business dispute has hit the point of litigation, then you probably know you’re in for what could be a long and arduous journey. Therefore as part of your overall thinking and strategy, it’s important to consider and discuss with your lawyers the general nature of what you can or cannot recover as part of a costs order, especially in lower Courts or Tribunals.
When you don’t get paid for works, you need to act fast to protect your interests and recover the money owed to you. Otherwise you are at risk of missing crucial deadlines and losing your best chance to recover payments.
