Article: What is Negotiation, Mediation, Arbitration and Conciliation and what are the benefits of each process?
Negotiation involves a process whereby the parties can either meet face to face on an informal basis or exchange settlement offers to try and resolve a dispute. The parties involved will directly communicate with one another to try and reach an agreement. Negotiations can be conducted with or without the assistance of a third party, […]
Entering into a Construction Contract? Beware of the Liquidated Damages Clause!
Liquidated damages are an amount of money that contracting parties agree on as the amount of damages one of them can recover if a party breaches the contract. Usually they apply to some specific type of breach of the contract, not any breach of any promise in the contract. In construction contracts, the liquidated damages […]