SECTIONS 92050 - California Statutes

EDUCATION CODE

SECTION 92050

92050. The Regents of the University of California may include or
cause to be included in a contract for a construction project for the
University of California a provision establishing the time within
which the whole or any specified portion of the work contemplated
shall be completed. The provision may provide that for each day
completion is delayed beyond the specified time, the contractor shall
forfeit and pay to the Regents of the University of California a
specified sum of money, to be deducted from any payments due or to
become due to the contractor. The sum so specified is valid as
liquidated damages unless manifestly unreasonable under the
circumstances existing at the time the contract was made. A contract
for such a project may also provide for the payment of extra
compensation to the contractor, as a bonus for completion prior to
the specified time. Such provisions, if used, shall be included in
the specifications and shall clearly set forth the basis for such
payments. Nothing in this section restricts the authority of the
Regents of the University of California to include any other
provision concerning liquidated damages in any contract for a
construction project.