Commercial Framework

What you need to know about liquidated and ascertained damages (LADs)

Understanding Liquidated and Ascertained Damages (LADs) in UK Construction Contracts Liquidated and ascertained damages (LADs), also referred to as liquidated damages (LDs), are a predetermined measure of damages agreed upon by parties in a contract. LADs are mainly employed to address culpable delays but can also be applied in cases of contract breaches. They are […]

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How do variation orders affect me?

How do Variation Orders affect me?

Variation Order in Construction Projects A variation order is a formal document issued by the contractor or client for changes in the project scope, design, completion date, contract price, etc. Any deviation from the scope of work agreed in the contract is considered as a variation in a project. The variation order must be clear

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Payment Notices & Pay less Notices

Payment Notices & Pay less Notices

What is a pay less notice? Pay Less Notice is often available as a template, depending on how many companies are delivering it to customers. The Act (apart from all JCT contracts), however, does require a paid notice that meets the required minimum criteria. JCT contracts have to provide detailed information that will enable a

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