Fees Liquidated Damages Clause Samples
The 'FEES; LIQUIDATED DAMAGES' clause establishes the financial obligations and penalties that may arise under a contract. It typically outlines the specific fees payable for services or products, as well as predetermined amounts (liquidated damages) that one party must pay if they breach certain terms, such as missing deadlines or failing to meet performance standards. By clearly defining these monetary terms in advance, the clause helps both parties understand their potential liabilities and provides a straightforward mechanism for compensating losses, thereby reducing disputes and ensuring predictability in the event of a breach.
Fees Liquidated Damages. 7.1 Reserved
7.2 Liquidated Damages and Fees Respecting Delays
7.2.1 The amounts of any Liquidated Damages for Delay for which DB Contractor may be liable pursuant to Section 8.7.1.1 of the General Conditions shall be as follows:
(a) $30,000 for each day after the Milestone 1 Completion Deadline and through the date of Milestone 1 Completion, but not to exceed 180 days;
(b) $80,000 for each day after the Substantial Completion Deadline and through the date of Substantial Completion, but not to exceed 365 days;
(c) $18,000 per day for each day after the Final Acceptance Deadline and through the date of Final Acceptance.
7.2.2 The amounts of any Qualifying Delay Late Fees for which DB Contractor may be liable pursuant to Section 8.7.1.2 of the General Conditions shall be as follows:
Fees Liquidated Damages. 7.1 Reserved
7.2 Liquidated Damages and Fees Respecting Delays
7.2.1 The amounts of any Liquidated Damages for Delay for which DB Contractor may be liable pursuant to Section 8.7.1.1 of the General Conditions shall be as follows:
(a) $[●] for each day after the Substantial Completion Deadline and through the date of Substantial Completion, but not to exceed [●] days;
(b) $[●] per day for each day after the Final Acceptance Deadline and through the date of Final Acceptance. [insert any additional deadlines and LDs in relation to multiple segments and/or different scope options]
7.2.2 The amounts of any Qualifying Delay Late Fees for which DB Contractor may be liable pursuant to Section 8.7.1.2 of the General Conditions shall be as follows:
(a) $[●][insert 50% of the amount set forth in Section 7.2.1
Fees Liquidated Damages. 7.1 Reserved
7.2 Liquidated Damages and Fees Respecting Delays
7.2.1 The amounts of any Liquidated Damages for Delay for which DB Contractor may be liable pursuant to Section 8.7.1.1 of the General Conditions shall be as follows:
(a) $100,000 for each day after the Substantial Completion Deadline and through the date of Substantial Completion, but not to exceed 365 days;
(b) $18,000 per day for each day after the Final Acceptance Deadline and through the date of Final Acceptance.
7.2.2 The amounts of any Qualifying Delay Late Fees for which DB Contractor may be liable pursuant to Section 8.7.1.2 of the General Conditions shall be as follows:
(a) $50,000 for each day after the Substantial Completion Deadline and through the date of Substantial Completion, but not to exceed the Delay Deductible Aggregate Cap;
(b) $9,000 per day for each day after the Final Acceptance Deadline and through the date of Final Acceptance.
7.2.3 DB Contractor acknowledges that the liquidated damages and fees described in this Section 7.2 are reasonable in order to compensate TxDOT for damages it will incur as a result of late completion of the Project or portions thereof as set forth in this Section 7.2 and Section 8.7 of the General Conditions.
Fees Liquidated Damages. 7.1 Fees for Early Issuance of NTP2 TxDOT may condition any early issuance of NTP2 pursuant to Section 8.1.1.6 of the General Conditions upon payment by DB Contractor to TxDOT the amount of $3,000 for each day during the period that NTP2 has been issued and any condition to NTP2 remains unsatisfied.
Fees Liquidated Damages. 7.1 Reserved
7.2 Liquidated Damages and Fees Respecting Delays
7.2.1 The amounts of any Liquidated Damages for Delay for which DB Contractor may be liable pursuant to Section 8.7.1.1 of the General Conditions shall be as follows:
(a) $30,000 for each day after the Milestone 1 Completion Deadline and through the date of Milestone 1 Completion, but not to exceed 180 days;
(b) $33,000 for each day after the Milestone 2 Completion Deadline and through the earlier of (a) the date of Milestone 2 Completion, and (b) the Substantial Completion Deadline;
(c) $80,000 for each day after the Substantial Completion Deadline and through the date of Substantial Completion, but not to exceed 365 days;
(d) $18,000 per day for each day after the Final Acceptance Deadline and through the date of Final Acceptance.
7.2.2 The amounts of any Qualifying Delay Late Fees for which DB Contractor may be liable pursuant to Section 8.7.1.2 of the General Conditions shall be as follows:
Fees Liquidated Damages