27 November 2020

Liquidated Damages

Within commercial contracts the use of liquidated damages is a standard way of dealing with the possibility of breach. A liquidated damage is used to determine what one party will pay the other in the event of a specific breach of its obligations by way of compensation. The advantages of liquidated damages clauses are clear, from a commercial perspective and when combined with the principle of freedom of contract which allows parties to provide for the terms and conditions that will govern the

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