§ 1816. Construction contracts

• (a) The Architect of the Capitol may not enter into or administer any construction contract with a value greater than $50,000 unless the contract includes a provision requiring the payment of liquidated damages in the amount determined under subsection (b) in the event that completion of the project is delayed because of the contractor.
• (b) The amount of payment required under a liquidated damages provision described in subsection (a) shall be equal to the product of—
  • (1) the daily liquidated damage payment rate; and
  • (2) the number of days by which the completion of the project is delayed.
• (c)
  • (1) In subsection (b), the “daily liquidated damage payment rate” means—
    • (A) $140, in the case of a contract with a value greater than $50,000 and less than $100,000;
    • (B) $200, in the case of a contract with a value equal to or greater than $100,000 and equal to or less than $500,000; and
    • (C) the sum of $200 plus $50 for each $100,000 increment by which the value of the contract exceeds $500,000, in the case of a contract with a value greater than $500,000.
  • (2) Notwithstanding paragraph (1), the daily liquidated damage payment rate may be adjusted by the contracting officer involved to a rate greater or lesser than the rate described in such paragraph if the contracting officer makes a written determination that the rate described does not accurately reflect the anticipated damages which will be suffered by the United States as a result of the delay in the completion of the contract.
• (d) This section shall apply with respect to contracts entered into during fiscal year 2002 or any succeeding fiscal year.