4.2 (b) Now consider a significant new PPP project (financed wholly by the private sector) where for some reason construction completion is delayed. Critically analyse and describe the consequences for the D&B/Tier 1 Contractor, of the following situations:
i) a time overrun extending past the projected Completion Date
ii) what the penalties might be on the [Tier 1] Contractor, and importantly also explain why penalties is written here in quotes; and
iii) which parties might seek remedies and apply or enforce these penalties at each stage in a progressive delay;
iv) giving an indication of how large they might be and why; and demonstrate how this would be calculated and applied.
