Liquidated Damages

In the United States

For information about Liquidated damages in the context of international trade, click here

Liquidated Damages in International Trade

Meaning of Liquidated Damages, according to the Dictionary of International Trade (Global Negotiator): A sum of money that a contracting party agrees to pay to the other party for breaching and agreement, particularly important in a contract in which damages for breach may be difficult to assess. A manufacturer, for example, that agrees to develop, produce, and sell unique products to a buyer may insist on a contract clause for liquidated damages in the event that the buyer rejects the goods without justifiable reason because the market for resale of the unique goods will be so limited that damages will be difficult to assess. See damages.

Liquidated Damages: Main Elements

The coverage of Liquidated Damages includes the following element(s):

Other Remedies for Breach of Contract

For detailed information on this issue, please read the corresponding entry.

References

See Also

• Contracts (in international or comparative law)
• Remedies (in international or comparative law)
• Breach of Contract (in international or comparative law)

Resources

See Also

• Contracts
• Remedies
• Breach Of Contract

Resources

See Also

Further Reading

• Information about Liquidated Damages in the Encyclopedia of World Trade: from Ancient Times to the Present (Cynthia Clark Northrup)

Liquidated Damages and the Laws of International Trade

Liquidated damages

Customs Trade Law