It came out that for a loan of 100k, the government was supposed to pay 600k to the contractor. Ludicrous. LAD (liquidated and as retained damages) should be ‘measured’. Should be a realistic amount to reflect the actual lost to the contractor and not a crazy percentage. Contracts should be renegotiated
3 Responses
It came out that for a loan of 100k, the government was supposed to pay 600k to the contractor. Ludicrous. LAD (liquidated and as retained damages) should be ‘measured’. Should be a realistic amount to reflect the actual lost to the contractor and not a crazy percentage. Contracts should be renegotiated
Liquidated and ascertained damages.(LAD)