L&AD

(redirected from Liquidated and Ascertained Damages)
AcronymDefinition
L&ADLiquidated and Ascertained Damages (also seen as LAD; legal term)
References in periodicals archive ?
As some readers will know, most forms of construction contracts include a clause entitling the employer to deduct pre-determined damages, referred to as 'liquidated damages' (LDs) or 'liquidated and ascertained damages' (LADs) if the contractor fails to deliver the project as scheduled by the contract.