Project penalty clauses that initiate at mutually agreed-on points in the project's development and implementation are:
A)Liquidated damages.
B)Milestone adjustments.
C)Contingency clauses.
D)Penalty points.

Question

Quizplus · Accepted Answer

Penalty clauses that initiate at specific points in the project's development and implementation are commonly known as liquidated damages. This clause allows the parties to agree on the amount of damages to be paid in case of a breach of the contract or failure to meet the specified time frame. The use of liquidated damages clauses helps to ensure timely completion of the project and discourage any undue delays.

Project Penalty Clauses That Initiate at Mutually Agreed-On Points in the Project's