Liquidated damages

Liquidated damages means a sum of money stipulated in the WHIP cost-share agreement that the participant agrees to pay NRCS if the participant fails to adequately complete the terms of the cost-share agreement. The sum represents an estimate of the technical assistance expenses incurred to service the agreement, and reflects the difficulties of proof of loss and the inconvenience or non-feasibility of otherwise obtaining an adequate remedy.

Source

7 CFR § 636.3


Scoping language

The following definitions will apply to this part, and all documents issued in accordance with this part, unless specified otherwise:

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