Liquidated Damages

Discussion in 'Development' started by peterpan, 2nd May, 2020.

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  1. peterpan

    peterpan Active Member

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    Hi all,

    Have gone past Practical completion date, can I start claiming Liquidated damages?
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    • Has the builder submitted their EOT claims? Has the opportunity lapsed?
    • Has the builder completed the variations?
    • What triggers the liquidated damages?
    • Are the LDs realistic or are they a penalty?
    • What form of contract?
     
  3. peterpan

    peterpan Active Member

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    Still considering EOTS
    What do you mean by has the opportunity lapsed?
    Variations not completed but EOT will be considered
    The adjusted Practical completion date triggers the liquidated damages
    LDs are realistic half of the rent, we would have gotten. Should have been more
    ABIC contract
     
  4. shorty

    shorty Well-Known Member

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    I would be thinking about things like:

    - how far off completion are you?
    - how good/bad is your relationship with the builder?
    - are they likely to continue trading?
    - how responsive are they generally?
    - are you happy with the build in general?
    - will you need them to fix defects in the future?
    - how much are the liquidated damages?
    - has the builder been reasonable, or unreasonable during the build?
     
    Perp and Propertunity like this.
  5. peterpan

    peterpan Active Member

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    Location:
    Melbourne
     
  6. peterpan

    peterpan Active Member

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    completion 6 months to one year. It has been very slow
    Relationship was good but it has deteriorated since we have started questioning why our build has been so slow
    Concerns about their liquidity. How can I found out this?
    Not very responsive
    Will hit with variations at every opportunity
    Build?
    I dont think they will be around to fix defects
    Very unreasonable during build
     
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    The contract has strict timeframes for submitting and approval of variations.
     
  8. shorty

    shorty Well-Known Member

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    peterpan likes this.
  9. peterpan

    peterpan Active Member

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    13th Sep, 2018
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    Location:
    Melbourne