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What is the difference between liquidated damages and un-liquidated damages in contracts management?

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Question ajoutée par Hazem Mattar , Project Manager , Egyptian Engineers
Date de publication: 2015/12/31
Gayasuddin Mohammed
par Gayasuddin Mohammed , Advocate , Practicing Law before High Court at Hyderabad

Liquidated damages is something which you can quantify the loss/damage or explicitly mentioned the sum as damages in the contract itself in case of any breach of contract or non performance of contract by any of the parties to the contract.

 

Un Liquidated damages is something which you can't quantify or calculate the loss or repair or damage caused or will cause in case of non performance or breach of contract. In such a scenario the aggrieved party can press before the related forum to specific performance of the contract as agreed. 

These points are the very basic difference between them. My2 cents. Thanks.

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