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11/11/2006 5:14:37 PM
 
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Section 5: OPA Board Subject: Community Center Contract Msg# 387528
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Rick, the "might" refered to which of the companies could have outstanding unbilled or unpaid work not wheither there would be monies owed. The General Manager has stated that the contract contains an arbitration clause, therefore, no one can tell you ahead of time to what degree OPA will be responsible. There is no fixed "damages" or fixed $ or % penalties. Bill Z |
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For reference, the above message is a reply to a message where: You might need to face liquated damages from not only Blades, but DAL, SPN, Soule, Richardson, CECO Building Systems and AWB Engineers, each of whom has some form of contractural agreement linking them to the CC project. As a member of the BOD you give the impression you're speculating as much as the rest of us. "You might need to face liquidated damages from ........." You might? As a Director, you should know whether or not OPA will face penalties or liquidated damages if the project is stopped and possibly to what degree. Some business contracts contain a liquidated damages provision, providing for payment of a certain fixed amount in the event of a breach. The fact that you used the legal term "liquidated damages" and not the word penalties in your message leads me to believe you have been appraised of the specifics in "the" contract. |
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