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Example of a liquidated damages formula

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Reference no: EM131426287

When referring to liquidated damages as a remedy for a breach, many contracts contain language that states: "...as liquidated damages, and not as a penalty...."

Question: Research projects online, and provide an example of a liquidated damages formula along with the type of procurement involved.

A good place to start: Almost any public works project such as bridges, highways, and buildings.

Reference no: EM131426287

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