COMPENSATION FOR DELAY

COMPENSATION FOR DELAY

It gives us great pleasure to inform esteem members of our group that Icon of Humanity is starting a weekly single line explanation series of various provisions under the building and engineering contracts on the basis of various case law decided by various courts. This series is named as ICON SERIES and it will be very helpful for consultants, contractors and engineers. The reasons for starting this ICON SERIES are not many but, that the readers feel it boring to read long literature and this attempt by Icon of Humanity will make it easy for readers to understand the vital provisions under the contract and they will be able to show their respective contractual obligations satisfactorily.

But it is to be made clear that this ICON SERIES is based upon various case laws decided by courts and the same will not give the whole explanation to the concerned topic but only clarifies confusions in one line. The readers may go through the judgments for detailed reasons, if they so desire and contact our team for detailed reasoning.

Our team ensure that we shall try to continue with this series, as long as the readers appreciate it.

 We are enclosing two samples of this series as under:

                                                                                                                               ICON-1

Compensation for delay:       Once the provisional extension of time for completion of work is granted upto a certain date, liquidated damages cannot be levied after the expiry of provisionally extended date

ICON-2

Compensation for Delay