LIQUIDATED DAMAGES/PERFORMANCE GUARANTEES Sample Clauses
LIQUIDATED DAMAGES/PERFORMANCE GUARANTEES. The City’s expectation is that annual maintenance performed by the Contractor will result in consistent operation of equipment, maximum operational performance of equipment, maximum beneficial usage of equipment, and maximum lifecycle of equipment. If tasks are omitted or not satisfactorily completed, public safety and the functionality of equipment are compromised, the Contractor and City agree upon the following schedule of liquidated damages to be deducted from monies due or to become due to the Contractor. These sums are fixed and agreed upon, not as a penalty, but because the parties agree that the actual loss to the City and to the public caused by the omission of work or substandard performance is impractical and extremely difficult to ascertain.
LIQUIDATED DAMAGES/PERFORMANCE GUARANTEES. The City’s expectation is that tree pruning, removal or related services performed by the Contractor be completed on schedule and in accordance within contract specifications. If tasks are omitted or not satisfactorily completed, and public safety of City Parks, Basins, Sports Fields, Facilities, medians and right of ways are compromised. The Contractor and City agree upon the following schedule of liquidated damages to be deducted from monies due or to become due to the Contractor. These sums are fixed and agreed upon, not as a penalty, but because the parties agree that the actual loss to the City and to the public caused by the omission of work or substandard performance is impractical and extremely difficult to ascertain.