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liquidity damages

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Querist : Anonymous (Querist)
03 June 2010 What is meant by liquidity damages. How is it treated in Accounts. what is the impact on Costing records.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
04 June 2010 Liquidity damages is Penalty deducted by a contractee from a contractor bill for non complaince of some clause of contract. if it is recoverable once the particular clause complied otherwise a loss for a contracor. My view it will related to financial nature not impact in Costing records
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