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(3) In May 2002, Bigco Ltd (building contractors) agreed to renovate commercial premises for Opas Ltd (the owner). The renovations were due to be completed by the end of December 2002. The contract was worth £100,000, and contained a clause (clause 11A), which obliged Bigco to pay £1,000 per day for late completion. If completion was delayed by more than three weeks, the contract further entitled Opas to terminate the contract, take possession of all the materials and equipment on the site, complete the job itself, and then sell any unused goods to cover any losses it may have suffered (clause 11B). In November 2002, Bigco realised that the job was far larger than it had imagined. It negotiated with Opas for a month's extension on the completion date. At the end of January 2003 (the re-negotiated completion date), the work was still incomplete, and likely to take several more months...

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