What is SOW in contract?
The goods or services are typically described in general terms in the contract itself or a more detailed description, sometimes called the “statement of work” or “scope of work” . 16 . (both referred to as SOW), may be attached as an exhibit to the contract and incorporated by reference.
What is liquidated damages clause?
A liquidated damages clause is used to compensate a party for losses caused by the other party, depending upon the language of the contract. The clause should determine the amount of damages in advance, if a party breaches the contract. 26 . Concern . Contracts may not include a penalty for nonperformance.
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