A contract provision that is exculpatory in nature and is intended to bar the contractor from receiving monetary compensation of any kind for any delays that may occur on a project, regardless of the source of delay is called

Question

Business

Guest

2 May, 16:39

A contract provision that is exculpatory in nature and is intended to bar the contractor from receiving monetary compensation of any kind for any delays that may occur on a project, regardless of the source of delay is called

+1

Answers (1)

Know the Answer?

Carlos Short · Answer 1

The answer is No-Damage-For-Delay Clause

Explanation:

The effect of the "No-Damage-For-Delay" provisions is to establish as a general rule, provided that there is no contractual provision, that a contractor or a delay in the performance of its contract may claim damages from the owner or the general contractor if the delay was caused by the owner. If this clause is present in the contract, the contractor cannot claim compensation for delays in project planning, regardless of the source.

Have a nice day!