Why are penalty clauses in monetary compensation, Business Economics

Subcontracts frequently include penalty clauses to provide the main contractor defence into the case of the supplier’s poor performance. Why are penalty clauses not the complete answer to safeguarding the chief contractor’s position?

Penalty clauses only give for monetary compensation to be paid into specific specified conditions. Apart from the complexity of enforcing penalty clauses, they seldom give complete recompense for all the significances of a supplier’s failure – as business loss or public damaged like the consequence of late delivery or poor performance of a system.

Posted Date: 9/3/2013 7:35:29 AM | Location : United States

Related Discussions:- Why are penalty clauses in monetary compensation, Assignment Help, Ask Question on Why are penalty clauses in monetary compensation, Get Answer, Expert's Help, Why are penalty clauses in monetary compensation Discussions

Write discussion on Why are penalty clauses in monetary compensation
Your posts are moderated
Related Questions
Graph the Demand and Supply Curve Given below are the demand schedule and supply schedule for china plates. Graph the demand and supply curve on one graph and determine equili

What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St

#what questDynamic Multiplier, Economicsion..

GDp of World?

Question: (a) Assume that a market is in equilibrium and all investors agree that the return on any diversified portfolio P is equal to R P = a p + b p 1 F 1 + bp 2 F 2

What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access

a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm

Illustrate liberalise or open up trade in market for promoting development? Liberalise or open up trade implies that: • Abandoning fixed exchange rates and elimination of re