How is the computation of liquidated damages is done?

Q: In all disputes, regardless of the method of resolution, who can support the burden of proof?

A: In the case of any dispute, a plaintiff is the person or the party that brings the lawsuit to the…

Q: How can the project records be used in litigation?

A: Litigation is the process of arguing or engaging in legal action in court as a method of settling a…

Q: Why are the Project records of considerable value in ascertaining the true impact of damages?

A: Future of any project depends on the authentic information. All the future action depends on the…

Q: What exactly is a subprocedure?

A: Subprocedure- A small process is a process that is part of a larger task or the process described…

Q: A project had March 4, 2021 as substantial completion date. The owner of the contracting company…

A:

Q: What is the difference between special damages and general damages?

A:

Q: What phrase regarding time must be included in the contract to support a liquidated damages claim?

A: The phrase regarding that should be included in the contract to support a liquidated damages claims…

Q: Explain the purpose and operation of liquidated damages.

A: Introduction: Liquidated damages are referred to as the amount of payment accepted by the parties at…

Q: How is time measured in construction contracts? Provide and example of a type of project that would…

A: Time measured in construction contracts: In any construction, project time plays an important role.…

Q: How can a project become involved in litigation?

A: Litigation is the mechanism through which a lawsuit is taken to trial. The legal cycle is usually…

Q: What are the liquidated damages?

A: The damages that occur due to the breach of the contract can be classified into liquidated and…

Q: What is the cost Reimbursable contract?

A: A constructional contract is defined as an agreement between two parties in which general and…

Q: When a claim or dispute arises, what steps should be taken by the contractor?

A: In the construction project, the dispute arises due to disagreements between the parties on a…

Q: Define the purpose of damages being awarded.

A: Answer Damages is that amount of money which the injured person gets from the person who caused…

Q: Liquidated damages are intended to represent anticipated losses to the owner based upon…

A: Liquidated damages are shown in specific legal contracts as an evaluation of losses to one of the…

Q: Are the liquidated damages the common practice throughout the construction?

A: Liquidated damages are given in specific legal contracts as an evaluation of losses to one of the…

Q: What actions can be taken to collect liquidated damages for the failure of a contractor to meet…

A: Liquidated damages are penalties the value to which the parties assign as reimbursement for a…

Q: Does the contractor have to accept partial possession?

A: The partial passion usually needs the approval of the contractor and provides the owner to use part…

Q: Discuss the group settlement ratio?

A: Group settlement ratio- For defining the settlement in case of a pile group, this term is widely…

Q: Explain the process of submitted a claim?

A: Claim generally comes in between the parties who are under the construction contract. These claims…

Q: What are Un-liquidated damages?

A: The damages that occur due to the breach of the contract can be classified into liquidated and…

Q: Under a liquidated damages clause, is it necessary to prove that the owner suffered a loss to be…

A: Liquidated damages are shown in specific legal contracts as an evaluation of losses to one of the…

Q: In a construction claim, is the burden of proof on the plaintiff or the defendant?

A: The plaintiff is the person or the party that brings the lawsuit to the court and files a complaint.…

Q: When do the courts enforce liquidated damages?

A: Liquidated damages are given in specific legal contracts as an evaluation of losses to one of the…

Q: In what way do liquidated damages differ from penalties?

A: Liquidated damages are shown in specific legal contracts as an evaluation of losses to one of the…

Q: Define the Method of Accelerating the Rate of Consolidation Settlement ?

A: Consolidation is the process of compression of saturated soil under static pressure. It is used to…

Q: What is the difference between liquidated damages and apenalty for late completion of the contract?

A: If the amount set by both parties is a true estimate of the loss due to a future breach of contract,…

Q: What can be the result of the contractor’s failure to follow mandated government claims procedures?

A: A contractor is a self-employed person that carries out work for the construction company. The…

Q: What do large and small misclosures mean?

A: Answer Misclosure is used in the field of the survey to find the error in the measurement or in…

Q: determine the consolidation settlement

A:

Q: Define the term Burden of proof?

A: The term burden of proof is defined as the work assigned upon a person to disprove or prove a…

Q: Which of the following listed documents is the preferred location for specifying the amount of…

A: Given documents are: Notice Inviting Bids Instructions to Bidders Bid or Proposal AgreementGeneral…

Q: Explain the settlement procedure proposed by van der Vlugt and Rosenthal (1989)  ?

A: Solution: The procedure of the settlement are proposed by Schmertmann (1970) and Schmertmann et al.…

Q: Does an arbitrator normally play apassive role?

A: Arbitrator is an independent person which is appointed for resolving the dispute between the…

Q: When is the computing of liquidated damages is done?

A: Calculation of liquidate damages:

Q: Why do the contractor favor no fault settlement while resolving a dispute?

A: A dispute resolution is also referred to as alternative dispute resolution, it is a method for…

Q: Builders Risk coverage is used to insure: a. builders completed operation b. property under…

A: Builders Risk coverage is used to insure: b. property under construction

Q: What is the effect of “beneficial use” on the foregoing list of contract requirement?

A: There are several effects of “beneficial use” on the foregoing list of contract some of them are…

Q: What is Litigation?

A: Litigation is defined as the method of opposing legal action in or engaging in court as a means of…

Q: what is the difference between a "penalty" and "liquidated damage"?

A: Penalty- It may be defined as “a punishment for breaking the rules or disobey the rules regulations…

Q: Are liquidated damages intended only for missing the completion date of a project, or may they also…

A: let's first understand what is liquidate damage? Liquidated damage is the funds that covering the…

Q: Distinguish between the liquidated damages and penalties?

A: The following are the difference:

Q: What is the bilateral contract modification?

A: Bilateral contract modification is a supplementary agreement that are signed by the contractor and…

Q: How do the owners collect the liquidated damages from the contractors during construction?

A: Liquidated damages are the method of sharing risk between the owner and the contractor and are…

Q: What are Prejob Agreements?

A: Pre-job agreements are the letter that contains information regarding company policies,…

Q: What are the common forms of settlement of contractor claims?

A: A claim may be a request for compensation not anticipated within the terms of the initial contract.…

Q: Does the arbitrator have the authority to take final decision?

A: Arbitration is a personal procedure in which the arguing parties decide that after obtaining…

Q: What is the main problem with arbitration?

A: The lack of a structured proof procedure is one disadvantage to the procedure. The lack indicates…

Q: How would you go about either documenting a claim for acontractor’s progress payment or its…

A: In order to appropriately document a contractor, maintain for a progress payment, the following…

Engineering Economics Principles

Engineering economics (engineering economy) is a sub-field of economics to study the use and application of the economic principles in the engineering analysis of decisions along with the systematic evaluation of the advantages of project costs inclusive of engineering design and analysis. It emphasizes microeconomics (a subset of economics) for researching the behavior of people in the decision-making process of assigning and determining multiple alternatives to the usage of some of the restrained resources and merging economic theory and engineering practice in a practical manner. It depicts the logical framework of economics in addition to the analytical application of statistics and mathematics.