Understand the enforcement and pitfalls of liquidated damages clauses and strategies for negotiating a more favorable clause.
Timely performance is one of the most important, and therefore hotly contested, issues in the construction industry. As a result, many construction contracts contain liquidated damages clauses that provide in advance for specific damages in the event of a delay in completion of the project. However, many owners fail to properly consider the impact and enforceability of such clauses. Similarly, many contractors and subcontractors fail to properly evaluate the risks and potential costs of agreeing to these provisions. This topic will help owners, contractors, subcontractors, design professionals and their respective attorney's, principals and project managers to understand their rights and obligations under liquidated damages clauses. In addition, the materials also discuss and explain the enforcement and pitfalls of liquidated damages clauses and strategies for negotiating a more favorable liquidated damages clause. Failing to properly understand and address these issues can lead to costly litigation or arbitration and significant financial consequences.
Agenda
Faculty
Andrew C. Ruben
Sandberg, Phoenix & Von Gontard, PC
- Of counsel with the St. Louis law firm of Sandberg, Phoenix & Von Gontard, PC, and former attorney with Dentons and Bryan Cave Leighton Paisner
- Practice emphasizes all aspects of commercial construction and real estate development matters
- Former general counsel and senior real estate executive
- Negotiated and documented complex construction transactions throughout the United States totaling well over $1 billion in public and private investment for clients such as Starwood Hotels, Siemens Power, Yocha Dehe Wintun Nation, St. Louis County Port Authority, McCormack Baron Salazar and AIG/SunAmerica
- Teaches and conducts seminars and classes in the areas of general corporate law and construction and real estate development
- Member of ABA’s Forum on the Construction Industry and the Bar Association of Metropolitan St. Louis’ Construction Law Committee
- J.D. degree, Washington University, St. Louis School (Order of the Coif); Graduate and undergraduate degrees in music, University of Michigan
- Can be contacted at 314-725-4909 or [email protected]
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