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liquidated damages

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liquidated damages

Post by salao on Fri Aug 23, 2013 2:34 pm

Good Day Everyone,

Upon completion of delivery and Liquidated damages is already computed, can a supplier be granted for a consideration that the liquidated damages be dropped or lowered? Are there any provisions, guidelines, or legal basis for this matter?

Thank you.
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Re: liquidated damages

Post by regina avelino on Mon Sep 02, 2013 11:26 am

the imposition of the liquidated damages against erring supplier/contractor is mandatory as the law expressly state "shall" on its provision. The implementation of such provision is very important to know if automatic termination of contract is necessary once the liquidated damages exceed 10% of the contract price.

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