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What is the liability for breach of contract of project payment in arrears

 What is the liability for breach of contract of project payment in arrears
The amount of the project price is very huge. When the project price is settled, it must be carefully settled according to the amount and calculation method agreed in the contract. If there is an error, the best amount will vary greatly, and one party will not accept the final result, and may also be in court. In practice, the construction project contract payment should be determined when the construction contract is signed. If both parties have disputes over the project payment after the completion of the project, they can negotiate and mediate privately. If the negotiation and mediation fail, they can appeal to the court for a ruling.
2024-02-19 16:51:43 1821 people helped

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What is the liability for breach of contract of project payment in arrears
1. Payment Liquidated damages This must be clearly stipulated in the contract, otherwise the specific amount of liquidated damages cannot be calculated.
2. Payment Project payment in arrears Part of the interest, if no liquidated damages have been agreed, can only be required to pay arrears according to legal provisions arrears Partial interest. If there is an agreement on interest in the contract, it shall be subject to the agreement; if there is no agreement, it shall be subject to the same period Bank loan interest calculation.
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