A clause for liquidated damages is a distinctive feature of construction contract which entitles the employer to deduct from the amount payable to the Contractor, certain pre-estimated amount stipulated in the contract, in the event of breach of contract by the Contractor. Liquidated damages are governed by Section 74 of the Contract Act, 1872 [“the… Continue reading Liquidated Damages in Construction Contracts: Legal Principles and Evolving Jurisprudence