It asked the PTNI management to 'strictly comply' with the rule on the imposition of liquidated damages
, and rescind contracts where the damages have already exceeded 10 percent of the contract.
Although, there seems to be some dissatisfaction on the part of the appellant as to the quantum of amount of liquidated damages
, but neither any relevant period as to the entitlement of the appellant to receive such liquidated damages
nor any other amount, were provided by the appellant.
Our opinion is that any demurrage, beyond the two additional periods, should be considered a claim for liquidated damages
. The reason for such proposition is twofold:
Any attorney drafting contracts on a regular basis knows two different client goals for liquidated damages
In California and Illinois, a liquidated damages
clause is valid unless it was unreasonable under the circumstances existing when the contract was made.
Whatever is left in this fund will be allocated according to the same formula as the provision related to liquidated damages
It is further argued that this Court vide order dated18-4-2006 has allowed the liquidated damages
from 22-6-2000 till the payment; as such the liquidated damages
were to be calculated from the said date till the payment of the liquidated damages
and the learned Insurance Tribunal did not comprehend the same and unjustly and unlawfully dismissed the application of the appellant.
These provisions, unfortunately sometimes referred to as "boilerplate," include remedies restrictions, liquidated damages
, warranty disclaimers and limitations on liability.
Bases resulting in zero valued payment certificates include a minimum sum to be due before payment is required and the ability to set-off accrued liquidated damages
against payments falling due resulting in the payment being extinguished.
Certain provisions in these agreements (e.g., a "liquidated damages
clause") quantify the economic remedy to the firm in the case of the breach of a nonsolicitation or nonservice provision--that is, a liquidated damages
clause is an estimate, made by the parties at the time they enter into their agreement, of the extent of the injury that the firm will probably sustain as a result of a breach.
Dept of Labor announced it has secured a consent judgment ordering two Sabana Grande farmers to pay $275,000 in back wages and liquidated damages
to 174 agricultural workers, reports News Is My Business (July 30, 2013).
A contract's price term is thus an implied-in-fact liquidated damages
clause that establishes the liquidated amount as an alternative performance.