Hi Experts,
I have received the contract for building a double-storey home with JG King. In my contract, they are showing
Total construction period as 425 days (303 days for construction and 122 days delay).
The penalty of liquidated damage shown as $250/week.
Can someone please advise are these construction period and liquidated damage rates negotiable? Is it because of COVID, Home builder's grant and double storey house causing too many days shown as construction period?
Regards,
Dewan
Construction period and liquidated damage in HIA Contract
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My liquidated damages was $1 per day which i got changed to $500 pw
You can try to negotiate anything you like!
Note though that liquidated damages are supposed to be a genuine preestimate of your loss, so you might have to argue your case a bit - eg how much out of pocket will you actually be for the delay?
Note though that liquidated damages are supposed to be a genuine preestimate of your loss, so you might have to argue your case a bit - eg how much out of pocket will you actually be for the delay?
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