Global Learning for Operational Leaders
Introduction
Course overview
Contracts often include pre-agreed damages for delay or underperformance, together with bonds, guarantees, retentions and other securities that protect one party if the other fails to perform. These provisions are commercially powerful, but they are also frequently misunderstood, poorly drafted or applied incorrectly, leading to disputes and unenforceable claims.
This Liquidated Damages, Penalties and Performance Securities training course explains how these remedies and protections work in practice. Participants learn the difference between liquidated damages and penalties, how to calculate and justify damages rates, the effect of extensions of time and caps, and how performance bonds, advance payment guarantees, parent company guarantees, retentions and letters of credit operate.
The course also covers making and resisting calls on securities and the practical management of these instruments over the contract life.