An amount of money stipulated in the contract that a contractor must pay due to delays in completing the project is called:

An amount of money stipulated in the contract that a contractor must pay due to delays in completing the project is called:

An amount of money stipulated in the contract that a contractor must pay due to delays in completing the project is called:



A) Retainage
B) Liquidated damages
C) Incentive fee
D) Retention



Answer: B