§ 5-4-10. Liquidated damages in contracts for public works improvements.  


Latest version.
  • All contracts with the city for any public works improvement shall contain a provision that the damages for each day's neglect to finish the work according to contract beyond the time fixed therein shall be such amount as may be prescribed at the time in the contract. This sum shall be deducted as fixed and settled damages from the contract price of the work before the contractor is paid, and in settlement with such contractor, this amount shall be charged to him or her as so much paid on his or her contract.

(Code 1967, § 2-10; Code 1985, § 2-278)