This is an Internet Service Provider service agreement (contract) with a mythical
company to provide internet access and services. This contract has a liquidated damages provision in paragraph 3(E) to be paid if the Use Policy is breached. Pursuant to a liquidated damage provision, upon a party's breach, the other party will recover this amount of damages whether actual damages are more or less than the liquidated amount.
King Washington Service Agreement between Internet Service Provider and Subscriber with a Liquidated Damage and Exculpatory Provision
Category:
State:
Multi-State
County:
King
Control #:
US-00448BG
Format:
Word;
Rich Text
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How to fill out Service Agreement Between Internet Service Provider And Subscriber With A Liquidated Damage And Exculpatory Provision?
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FAQ
A liquidated damages provision is generally enforceable (and will override any duty to mitigate) as long as the liquidated damages are reasonable and the actual damages would be difficult to prove.
A liquidated damages clause (or an agreed damages clause), is a provision in a contract that fixes the sum payable as damages for a party's breach. In comparison, unliquidated damages are damages for a party's breach which have not been pre-estimated.
A provision for liquidated damages will be regarded as valid, and not a penalty, when three conditions are met: (1) the damages to be anticipated from the breach are uncertain in amount or difficult to prove, (2) there was an intent by the parties to liquidate them in advance, and (3) the amount stipulated is a
Liquidated damages are nothing more than damages agreed to in advance as compensation for a potential future breach of contract. In construction contracts, liquidated damages are normally assessed for late completion and are stated as a per diem rate.
Courts generally uphold a liquidated damages clause on the basis of the principle of freedom of contract, but if the court determines the clause to be a penalty, the clause will not be enforceable.
To enforce a liquidated-damage provision, the party enforcing the contract must prove that, at the time the contract was formed: (1) the harm anticipated from a breach was difficult to predict; and (2) the liquidated damage amount was a reasonable estimate of the harm.
Liquidated damages are presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in breach of contract.
Is Your Liquidated Damages Clause Lawful in California? In California, it is possible to enforce a liquidated damages clause. The amount agreed to at the time that you and the other party sign the contract must be a reasonable estimate of losses that may be suffered should they fail to perform.
What is the Difference Between Liquidated Damages and Penalty? The main differences between liquidated damages and penalty are: When the amount fixed is more than the actual loss incurred, it is called a penalty but an amount that is a pre-estimate of the loss is called liquidated damages.
Liquidated damages must be a genuine pre-estimate of the principal's likely losses. These losses must occur due to the contractor failing to bring the works to practical completion by the specified date. You need to make this calculation before entering into the contract.