Engineering Board Exam Reviewer · ECE · hard

A contract for a ₱5,000,000 CCTV project provides liquidated damages of 0.1% of the contract price per day of delay. The contractor finishes 25 days late with no valid excuse. How much are the liquidated damages?

1. ₱1,250,000.00
2. ₱5,000.00
3. ₱12,500.00
4. ₱125,000.00

Answer

D. ₱125,000.00

Solution

LD = 0.001 × ₱5,000,000 × 25 days = ₱125,000.00.

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