| Title |
Improvement for Liquidated Damages according to the Delay of Domestic Construction Project |
| Authors |
Lee Sang-Beom ; Lee Young-Min |
| Keywords |
liquidated damages ; penalty ; compensation for damages ; expected profit |
| Abstract |
The delay of the completion of the construction project occurs frequently because the original schedule is affected by numerous factors that contribute to the overall delay in completing the project. But, In our country the dealing with a claim is not sufficient yet by reasons of fair relation between owner and constructor, cognitive shortage in claim, and such. Especially they have made a irrational application of unfounded rule. The study is to estimate liquidated damage and to suggest improvement of connected system about liquidated damage through them in case which the contract period was delayed by the contractor's responsible reason. In this study, we make a rational model ; that includes calculating of dispute costs, and suggests the solution and the prevention for claim by considering the law connected with liquidated damages. |