000			01516cam a2200289 4500
001			ABS64750
008			011203n2001 000 0 eng u
035			_a(Sirsi) u115813
100			_aFrame, S.
245			_aTime is of the essence
260			_c2001
490			_aBuilding Trade and Industry _v17(10) October 2001, 10(1)
520			_aHighlights how the application of Liquidated and Ascertained Damages (LADs) continues to be the root cause of many disputes in the construction industry. LAD provisions are usually contained in standard form and bespoke building contracts and the sum agreed upon is to be deducted from the cost of the contract by the employer if the contractor runs over schedule. The article illustrates that deducting money from a contractor for running over time limits is not as straightforward as it sounds. Problems that can arise, range from there must be a 'readily asccertainable' completion date from which LADs can run, to following procedural requirements which are found in most contracts for the application of LADs.
590			_aABS
650			_aTIME LIMITS
650			_aLIQUIDATED DAMAGES
650			_aASCERTAINED DAMAGES
650			_aCONSTRUCTION INDUSTRY
650			_aDISPUTES
650			_aBUILT ENVIRONMENT-BUILDING CONTRACT FORMS
650			_aCONTRACTORS
650			_aEMPLOYERS
650			_aHOUSING GRANTS CONSTRUCTION AND REGENERATION ACT 1996
650			_aPENALTIES
690			_aBUILT ENVIRONMENT-BUILDING CONTRACT FORMS
942			_n0
999			_c68984 _d68984