Computation of Liquidated Damages

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Computation of Liquidated Damages

Post by pmb_pmed on Mon Jun 27, 2016 4:34 pm

Hi all!

I just want to ask a clarification regarding the computation of Total Liquidated Damages.

I used the formula TLD = VUUP x [ (1 + OCC)n - 1] x K

If the contractor is delayed for 38 days, is the computation for n = 38÷365 = 0.104 correct?
If so, when you use it for the formula [ (1 + OCC)n - 1]; where OOC=0.15, it will come out as a negative number thus, TLD will also be negative.

Am I correct in using the formula?

Thank you in advance!

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