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As of the effective date of this Chapter, when the City enters into a contract or extends the terms of an existing contract, the contract shall obligate the Contractor to the following terms and conditions:
(b) Contractors' failure to comply with the foregoing requirement shall constitute a material breach of the contract.
(c) In the event that Contractor or its Subcontractor is found to be in breach of this provision, Contractor shall be liable for liquidated damages in an amount equal to its net profit under the contract, or five percent of the total amount of the contract, whichever is greater. Such liquidated damages shall be payable upon demand, and may be withheld from monies owed to Contractor under the contract.
(d) Nothing in this Section shall be construed to limit any other remedies available at law to the City.
(Added by Ord. 171-03, File No. 030422, App. 7/3/2003)
(Derivation Former Administrative Code Section 12T.4; added by Ord. 3-02, File No. 011796, App. 1/18/2002)