What is the rate for liquidated damages?
QUESTION
I have a question about the interpretation of GC13.9 (no supplemental GC) I’m unclear about the words “genuine pre-estimate”. Does this mean that we cannot claim anymore that $500/working day, or does it mean it’s only an estimate and actual cost will be recovered once known?
COMMENT
Liquidated damages are now set at $1000/day vis Platinum supplemental. GC 13.9 says the flat rate plus out of pocket costs.