Liquidated damages and penalty clauses: Where are we now?
Abstract
This paper takes a detailed look at the principle of liquidated damages and provides an insightful update that will be of use to professionals, employers and contractors alike. The authors initially look at the historic approach taken by both the industry and the courts to liquidated damages and then move on to consider how developments in case law have recently added the concept of commercial justification. Finally, an analysis of the approach taken by two of the widely used standard form contracts is followed by a series of practical tips.
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Author's Biography
Jan Rzedzian are associate solicitors in the construction team at Hay & Kilner, a leading law firm in the north-east of England. Graham has 30 years’ experience in representing employers, contractors, subcontractors and consultants in dispute resolution procedures. He advises on contractual matters, including T&Cs, consultants’ agreements and collateral warranties. Jan specialises in construction and engineering disputes involving residential or commercial building works and drafts contractual documentation for construction and engineering businesses. Hay & Kilner’s construction team is praised in Chambers & Partners 2017, an independently researched guide to the UK legal profession, where Jan is named an ‘associate to watch’.
Citation
Sutton, Graham and Rzedzian, Jan (2017, September 1). Liquidated damages and penalty clauses: Where are we now?. In the Journal of Building Survey, Appraisal & Valuation, Volume 6, Issue 2. https://doi.org/10.69554/AMTK7546.
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