14(1)If a contract to which the Corporation is a party relates to the construction or maintenance of a highway and specifies a date by which or a time within which any work shall be done or material shall be supplied, it may also provide for a penalty for failure to complete the work or supply the material by that date or within that time.
14(2)The penalty referred to in subsection (1) shall consist of either or both of the following:
(a)
the actual loss or damages suffered by the Corporation because of the failure; or
(b)
a stipulated sum for each day that the work is unfinished or the material not supplied in full after the date or time agreed upon, regardless of actual loss or damages.
14(3)If a contract for the construction or maintenance of a highway provides for a penalty as referred to in this section, the amount of the penalty may, in whole or in part, be withheld from any money payable by the Corporation under the contract.
14(1)If a contract to which the Corporation is a party relates to the construction or maintenance of a highway and specifies a date by which or a time within which any work shall be done or material shall be supplied, it may also provide for a penalty for failure to complete the work or supply the material by that date or within that time.
14(2)The penalty referred to in subsection (1) shall consist of either or both of the following:
(a)
the actual loss or damages suffered by the Corporation because of the failure; or
(b)
a stipulated sum for each day that the work is unfinished or the material not supplied in full after the date or time agreed upon, regardless of actual loss or damages.
14(3)If a contract for the construction or maintenance of a highway provides for a penalty as referred to in this section, the amount of the penalty may, in whole or in part, be withheld from any money payable by the Corporation under the contract.