Delays and Liquidation Damages in Construction Contracts. "Contractor gets scared when Employer talks about L/D. It's not a joke." Progress can be defined in many ways when we talk about construction industry. According to my viewpoint progress is nothing but transformation of funds in to physical structures. In other words when Pounds, Euros, Bucks, Yuans or Rupees are turned into physical structures we see progress. Normally, Construction Projects are executed and governed under the Conditions of Contracts, known as COC. These conditions of contract are framed by contract experts, consulting engineers and law experts. Input from contractors is also desirable because they are key stake holders. The most famous and internationally recognized conditions of contracts have been framed by FIDIC (International Federation of Consulting Engineers). " International Federation of Consulting Engineers", is popular acronym for its French name "
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