Liquidated Damages

Liquidated Damages (LD) definition

/ˈlɪkwɪdeɪt/ /ˈdamɪdʒ/

What does Liquidated Damages mean?

In a liquidated damages clause, the parties to a contract fix in advance a sum of money to be paid by the defaulting party to the innocent party in the event of a breach. Liquidated damages are recoverable (where not a penalty) without the need to prove the loss suffered.

Variances

LD
A Liquidated Damages Clause

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