Posted by Bud Branstetter on October 31, 1998 at 08:52:57:
In Reply to: Liquidated Damages posted by Marvin Seawood on October 30, 1998 at 23:08:33:
The contract I use calls for 10% of the note amount. I've not had to use it. But you must be ready to file if you do get bypassed. It's sort of reminds them that they signed a contract if they want to hold out for more money. Otherwise you have no leverage if they decide to wait.