“Liquidated damages”, “liquidated and ascertained damages” (LADs), “delay damages”; however described, the theory is simple. The parties to a construction contract pre-determine the level of damages that a contractor must pay to the employer in the event of certain specified breaches of contract. The most common of these breaches is late completion; in short, the sum payable in the event of delay is fixed. Whilst LADs are not exclusive to delay-related damages, it is in this context that the legal and contractual factors connected to the levying of LADs are discussed.