Public works construction contracts may include both liquidated damages provisions for late construction project completion and incentive provisions for early construction project completion when the project schedule is deemed to have value. The terms of the liquidated damages provisions and the incentive provisions shall be established in advance as a part of the construction contract and included within the terms of the bid or proposal.
(Code 1981, §36-91-24, enacted by Ga. L. 2013, p. 628, § 6/SB 179.)
Code Commission notes.- Pursuant to Code Section 28-9-5, in 2013, Code Section 36-91-23, as enacted by Ga. L. 2013, p. 628, § 6/SB 179, was redesignated as Code Section 36-91-24.
ARTICLE 3 BONDS
PART 1 GENERAL PROVISIONS