Liquidated damages may be incorporated as a clause in an agreement when the parties to the agreement agree to the payment of a certain sum as a fixed and agreed upon payment for doing or not doing certain things particularly mentioned in the agreement. It is the amount of money specified in a contract to be awarded in the event that the agreement is violated, often when the actual damages are difficult to determine with specificity.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.